Hays & Associates Real Estate

07/28/2026

Navigating the real estate world as both a buyer and a seller can feel like a balancing act, and I'm here to help you stay informed and confident in your decisions. With the latest market data from Monroe County, let's take a moment to dive into the current trends and how they might impact your journey.

Currently, we have a 4.39 months’ supply of inventory, which indicates a relatively balanced market — not favoring buyers or sellers too heavily.

New listings in the area are coming in at a median price of $339,900, with 229 new properties entering the market. On the other hand, active listings are slightly higher, with a median price of $379,900. This variance might offer opportunities for negotiation, especially as a buyer.

Properties are spending an average of 52 days in the market.

The sold-to-list price ratio remains steady at 97.67%, showing that sellers are generally getting close to their asking prices.

It's essential to coordinate timing effectively to ensure a smooth transition from selling your current home to purchasing your next one.

If you have any questions or need advice tailored to your specific situation, please don't hesitate to reach out. I'm here to support you in achieving your real estate goals. Feel free to contact me anytime at Hays and Associates Real Estate LLC, 812-327-5626, to discuss further.

07/25/2026

Monroe County's real estate market is slowing down with fewer homes being sold. In June 2026, new listings dropped by 13% compared to last month but increased by 18% from last year. Click this link for last month's full report from the Indiana Association of Realtors.

Last update: July 7, 2026, 12:04 a.m. Source: IAR MLS Data Warehouse Data notes: A listing counts in inventory if its status is active, not pending or sold. Inventory fluctuates constantly, so we calculate the monthly measure as the inventory at the start of each day average across the entire month.

05/14/2026

As you juggle the exciting and sometimes challenging task of buying and selling at the same time here in Monroe County, I wanted to reach out with a quick update on the current market trends as of April 2026. Understanding these trends can really help in coordinating your moves effectively.

Here’s a snapshot of what’s happening in the market right now:

Inventory & Supply
- We currently have a 5.44 months supply of inventory, which is a key indicator of the market's balance between buyers and sellers. This number is up 15% from last month and has seen a significant 44% increase over the past year. This suggests more options for buyers, but also means more competition for sellers.

New Listings
- There have been 269 new listings recently, with a median list price of $359,900. This gives you an idea of the fresh opportunities entering the market.

Active Listings
- At the moment, there are 457 active listings in Monroe County, with a median list price of $399,000.

Pending Listings
- For homes that have recently gone under contract, the median list price stands at $325,000, with properties typically spending about 29 days on the market. This quick turnover is a reflection of the current buyer activity.

Sold Listings
- The median sold price is $316,328, experiencing a slight decrease of 8% month over month. Homes are selling at 97.07% of their list price, showing strong buyer commitment. The median days on market for sold properties is 28, which is 22% quicker than last month.

For those of you navigating both buying and selling, timing is everything. The increase in inventory can be advantageous, offering more choices, but it’s also essential to price your property competitively and be ready to act swiftly on buying opportunities.

I’m here to help you make sense of these trends and how they might impact your personal real estate goals. If you’d like to dive deeper into these insights or have any questions about your specific situation, please feel free to reach out. You can contact me directly at [email protected] or 812-327-5626.

04/16/2026

Here is your March real estate update for Monroe County. It's sort of long but worth the read if you're in the market to buy or sell.

Whether you're a first-time homebuyer or looking to make a move up, I wanted to share a quick update on our local housing market to help you make informed decisions as you navigate your home-buying journey.

As of March 2026, here's a snapshot of the current trends in our area for single-family homes.

Inventory & Supply

- We currently have a 4.92-month supply of inventory, which indicates a balanced market where both buyers and sellers are on relatively equal footing.
- There's been a 34% increase in inventory over the past month and a 32% increase over the past year. This means more options are becoming available for you to consider!

New Listings

- In March, there were 295 new listings with a median list price of $399,000. This suggests a variety of new opportunities to explore, whether you're seeking a starter home or something a bit more spacious.

Active Listings

- There are currently 600 active listings, with a median list price of $379,900. This provides a broad spectrum of homes to suit various preferences and budgets.

Pending Listings

- We have 106 new pending listings, with a median list price of $344,250 and a median of 33 days on the market. The median price per square foot for these pending homes is $193, indicating strong pricing trends.

Sold Listings

- The median sold price last month was $325,000, reflecting a 14% increase from the previous month. Homes are moving quickly, with a median of 35 days on the market—a significant 34% decrease in time compared to the previous month. The sold-to-list price ratio remains stable at 97.37%, highlighting consistent demand.

All these numbers might seem like a lot, but they provide a helpful overview of the Monroe County real estate landscape right now. If you're considering buying a home, it's important to know that pricing trends and availability are in your favor, and homes are selling swiftly, reflecting a vibrant market.

I recently retired from banking where I spent most of my years financing homes. As far as I know, I am the only Realtor in the area with that experience. So, I can help you find a home that's right for you and help find financing that's right for you, as well.

If you have any questions about this data or want to discuss anything related to real estate, feel free to reach out. Jerry Hays at Hays and Associates Real Estate LLC is here to provide guidance tailored to your needs and goals.

Looking forward to potentially connecting and helping you find the perfect home!

Warm regards,

Jerry Hays
Hays and Associates Real Estate LLC
812-327-5626
[email protected]

11/20/2025

In an effort to make housing more affordable, President Trump recently proposed a 50-year mortgage. Although that may make the monthly payment more affordable for some, it won't make the house less expensive and may be a bad idea in the long term.

While a longer amortization may make owning a home more accessible, it won't make housing cost less, if fact, it may make demand stronger, leading to higher prices.

Realtor.com estimates that on a $400,000 home with 10% down at today’s 30-year rate, a 50-year mortgage would trim roughly $250 per month off the payment.

But the long-term cost is enormous. Over the lifetime of the loan, a 50-year borrower would pay $816,396 in interest, compared with $438,156 on a 30-year mortgage—a difference of $378,240, or 86% more interest overall.

Equity also lags woefully behind. After just 10 years of homeownership, the 30-year borrower would have $42,308 more equity, equal to 10.6% of the home’s value, purely because they are paying down principal faster. That is not, however, considering any appreciation.

Compare the cost of owning a home with a 50-year mortgage to renting. If a 50-year mortgage comes to fruition, and you are considering one, remember, your equity build-up is much less, not considering appreciation, and you'll have to pay for upkeep and real estate taxes. If you rent, you'll have just one payment, and the landlord is responsible for taxes and upkeep. You would not, however, get any appreciation in value, if renting.

If you have any questions or want to discuss this further, let me know by sending me a private message on Messenger.

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09/24/2025

The housing shortage may take care of itself, at least for our children. Here’s why.

According to census.gov, the U.S. population is experiencing a shift towards an older demographic. As of 2024, the share of the population aged 65 and older has increased from 12.4% in 2004 to 18% in 2024. This trend is reflected in the number of states and counties where older adults outnumber children, rising from three states in 2020 to eleven in 2024. The number of metro areas with more older adults than children has also increased from 58 to 112, indicating a broader trend across the nation. This demographic change is part of a long-term trend, with projections suggesting that by 2034, just nine years, there will be more people over 65 than under 18 in the U.S.

As our Seniors age and pass away, population may decline meaning more existing homes will come on the market with fewer people left looking to buy. If supply exceeds demand, Sellers will need to be more aggressively priced to be attractive to Buyers. This could mean lower home prices for our children.

Of course, this could all be affected by the U.S. policy on immigration.

Make it a great week!

06/16/2025

Can mortgage interest rates at current levels be good for buyers?

While higher interest rates are often viewed as a deterrent to homeownership, they can paradoxically foster conditions that make the housing market more favorable for buyers. At today's levels, rates may be perceived as moderate compared to historical highs, but they may still evoke caution among prospective buyers and sellers.

When interest rates rise, many potential buyers delay their decision to purchase homes, waiting for rates to fall or for market conditions to stabilize. This reduction in competition can be advantageous for active buyers. With fewer prospective buyers actively seeking homes, sellers may be compelled to lower prices, thus creating opportunities for those buyers who remain in the market.

With fewer buyers in the market, sellers become increasingly motivated to attract offers. Homes may linger on the market longer, prompting sellers to reconsider pricing strategies. Higher rates frequently coincide with reduced home prices.

According to the Indiana Association of Realtors, housing inventory in Monroe County increased 35% since May 2024 (more supply), while closed sales are down 16% (less demand) and sale prices are down 2% during the same period. Increased supply and lower demand translate into lower prices.

I've said it before, and I'll say it again. Buy now and refinance if rates go down.

Have a great Summer!

05/29/2025

I thought it might be interesting to see what a family earning the median income for Monroe County could afford in today's market.

Homes are generally considered affordable if the monthly housing costs, including mortgage, taxes, insurance, and private mortgage insurance, is no more than 30% of the family gross monthly income.

Assumptions here include a down payment of 5% of the purchase price, a credit score of 700, and family income of $63,000 (the median income for Monroe County).

Based on these assumptions, a family earning $63,000 a year could afford a home costing $197,000 with a $187,000 mortgage.

If you would like to see how much you can afford and/or how to buy a home with no down payment, call me at 812-327-5626.

04/11/2025

If you follow my page, you know I've been saying, "buy now before prices go up and refinance if rates go down."

According to the Indiana Association of Realtors Housing Hub, prices are on their way up in Monroe County but not yet at their highest level in the past year and according to Freddie Mac's Primary Mortgage Market Survey, 30-year mortgage interest rates are going down albeit ever so slowly.

In February, the median sale price in Monroe County was $282,500. Last month it was $310,000. Keep in mind, this is just a snapshot in time and not likely sustainable but that is a 25% increase in one month. The highest median price in the past 5 years was last June when it was $356,000. Meanwhile mortgage interest rates last June were hovering near 7% and are now 6.62% rounded to 6.625%.

At the peak last June, there were 147 closed sales. In January this year there were 79, February 99, and March 103. It appears lower interest rates are spurring sales.

The bottom line is, it's not too late to make a move. We're still below the peak in prices and interest rates are falling. Buy now and refinance if interest rates to down.

Make it a great day!

04/07/2025

Good Monday morning!

Ever wonder if that home improvement you're considering is a good investment? Well, according to the Journal of Light Construction, here are the costs for a few improvements and how they can affect value.

Project Cost Value Add Cost Recovered

Garage
Door
Replacement $4,513 $8,751 193.9%

Entry Door
Replacement
Steel $2,355 $4,430 188.1%

Mfg. Stone
Veneer $11,287 $17,291 153.2%

Siding
Replacement
Fiber Cement $20,619 $18,230 88.4%

Siding
Replacement
Vinyl $17,410 $13,957 80.2%

Major
Kitchen
Remodel
Upscale $158,350 $60,176 38%

Just a few. Check out the Journal of Light Construction website for more information https://www.jlconline.com/cost-vs-value/2024/ .

This site compares average costs for 23 remodeling projects with the value those projects retain at resale in 162 U.S. markets