JANUARY 2021 REAL ESTATE MARKET REPORT

Local Market 

Housing data released by the MIBOR BLC® comparing January 2020 to January 2021 shows:

• An increase in Median Sales Price of 16.2 percent to $212,000
• An increase in Closed Sales of 10.1 percent to 2,042
• New Listings decrease 8.9 percent to 2,362

“The Indianapolis market is reflective of the real estate market that we’ve come to expect, one with little seasonality and with limited inventory,” said Shelley Specchio, MIBOR CEO. “This month, new listings slid 8.9%, after four months of gains, however, the Indianapolis real estate market shows itself to be amazingly strong, with no indications of weakness. Despite rapid increases in prices and steep declines in inventory, closed sales continue to rise with an increase of 10.1 percent over last year.”

Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says, “Nationally, the housing market is expected to remain strong through 2021 due to a combination of favorable demographics, continued low interest rates, easier access to credit, and a continued lack of inventory. That said, sales are very unlikely to exceed the very strong levels of activity they have exhibited over the last half of 2020. They should, however, be able to maintain or come very close to maintaining that level of during 2021. Home prices should continue to rise, but by about half the rate they experienced in 2020. Housing is a bright spot in our recovering economy and should remain so going forward.”

---

National Market

EXISTING-HOME SALES DATA

NAR releases national and regional existing-home sales price and volume statistics on or about the 25th of each month. Each report includes data for 12 months and annual totals going back three years. Reports are available for existing single-family homes, condos , and co-ops. Both median and average prices are included.
​
[Click here for Existing-Home Sales data] 

---

Mortgage News

As reported by the Indianapolis Business Journal Real Estate Weekly, The average rate for 30-year mortgages was unchanged at 2.73% in the week ended February 4, according to FreddieMac. The rate for 15-year mortgages rose from 2.20% to 2.21%.


Source: Mibor.com