January housing report

While home sales were down in January, less stock is available and the median home price rose almost 16%.

Feb. 18 the Upstate Alliance of REALTORS Multiple Listing Service (UPSTAR MLS) released its January 2021 local housing market report. Comparing last month’s figures to the same timeframe in 2020, the leading market indicators are as follows:

• New listings decreased 21.1% to 558.

• Pending sales were down 12.3% to 549.

• Closed sales decreased 3.9% to 440.

• Inventory levels shrank 53.1% to 500 units.

• The median sales price increased 15.9% to $168,000.

• Percent of original list price received increased 1.4% to 96.8.

• Months supply of inventory was down 60.0% to 0.6 months.

“Nationally, we’re all dealing with rising home prices and low inventory,” UPSTAR 2021 President Adam Smith said. “The January statistics reflect that as well as the winter selling season. But the Fort Wayne area continues to make the “hottest markets” list with its affordable housing, city amenities and economic development projects. I believe these factors will continue to bolster the housing market in northeastern Indiana for quite some time.”

The data from the January 2021 Monthly Indicators report tells consumers how the northeastern Indiana housing market is performing according to nine different indicators with comparisons to 2019 and 2020. To view the full market report as well as the fourth quarter 2020 Foreclosure Report and other housing statistics and archives, visit www.upstarindiana.com/pages/housing-market-stats. This web page also includes market reports broken down by county in the UPSTAR MLS primary coverage area, which includes the counties of Adams, Allen, DeKalb, Huntington, Noble, Wells and Whitley.

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