march recap

It's been a rough March for Indiana basketball fans. But, don't you fret, things are looking up (at least in the real estate market that is). We are slowly but surely seeing more inventory across all price points.

Thank you all so much for supporting us through trusting us in your home buying/selling process, referring friends & family, or simply reading this newsletter.

Please reach out if we can be of assistance in any way: referring contractors for home projects, interior design second opinion, curious about purchasing an investment property, bored & want someone to grab coffee with, you name it :)!

📈 market insights 📉

We are often asked about the state of the market after the craziness of the past couple years. In short, it heavily varies on price point & sub-market which it is why it is so imperative to have a realtor be your guide. We compiled some data from MIBOR Realtor Association to help visualize what the market is doing for you analytical folks. Along with having our boots on the ground & evaluating each home on a case-by-case basis, we regularly analyze data provided by MIBOR to see what the sub-markets are doing as an aggregate.

% of List Price Received

As you can see in the graph below highlighting Marion & Hamilton county in February 2023, most listings are still getting list price offers (97.5% of list price received as average). This is slightly down from February of 2022, where nearly all homes were getting above list price offers at a cumulative 100.95% of list price received. As we get into the Spring market, that number is increasing- up 0.8% from January as more buyers enter the hunt. We anticipate that number to rise with the March as well. In short: if it is a house in a sought-after location, well cared for, & priced well, you can expect to need to be at list price or above to be competitive.