June 2020 shows us the median home price has risen by 4.6% to $250,003 and price per square foot has also risen by 4% to $120. One of the trends we continue to see across the board is the number of homes being sold. Hendricks County is up to 292 which is a 26.4% increase. New listings are down 8.4% to 306 and the active inventory is down 7.8% to 225 listings. The average days a house stays on the market is 31 which is up 4.0%.
As I have stated over the last few weeks, it is a very dynamic market for both sellers and buyers. Sellers should be ready to deal with plenty of interested buyers and should expect to get full value on their home. Buyers continue to deal with competition when they find a home they are interested in and should expect to have to move fast if they want to be competitive in buying a new home. With interest rates as low as they are among other factors, people are looking to take advantage.
Let me know how I can address your thoughts or questions. If Hendricks County is not your current and/or your targeted location, let me know and I can share the specifics of your preference around the Central Indiana area. Next week, I will review the real estate market for Boone County.
Tim Houterloot – Broker/Realtor