How's the Market?

    How's the Market?

    Mar 05, 2018

    I get asked "how's the market" all the time.

    Inventory - there were about 20% fewer homes for sale in SW Indiana in Feb 2018 vs Feb 2017

    Days on Market - in Feb 2017 is took an average of about 95 days to sell a house. In Feb 2018 it was about 75 days. Vanderburgh and Warrick Co are about 60 days currently.

    Sale Price vs List Price - The average is still 97-98% of list price. Homes with multiple offers tpically sell for list price or a few percent above.

    Buyers

    If you are looking for a deal you probably need to look for homes that have been on the market for 60+ days. Homes that are priced right for their condition and location are selling within a couple weeks. If you see a home pop up for sale that seems in good condition and is priced right, be prepared to write a very good offer, or you may very well lose out to someone else.

    Sellers

    Now is the time to sell. Low inventory and fairly high demand has made this a seller's market.

    As always... call me with questions.