10/11/2023
As we step into October,๐ it's time to take a closer look at how the real estate market in Southwest Indiana performed last month compared to September 2022.๐
In September 2023, we saw a 4.77% decrease in the number of homes listed for sale. That's a total of 479 homes available on the market.๐ The number of homes sold also experienced a noticeable dip, down by 24% compared to September 2022, with a total of 335 closings๐ โ
On a brighter note, the average sales price continued to show growth.๐ However, the rate of increase is gradually slowing down, mirroring the trends we've seen in previous months. This could be an indication that our market is stabilizing as we inch closer to pre-COVID levels.
Homes are spending more time on the market, with an average of 27 days before going pending.โณ This suggests that buyers are taking their time to make decisions and are likely considering various options before committing to a purchase.๐ค
What does all of this mean for you? If you're looking to buy, the market may offer more choices, but competition is still a factor. If you're selling, pricing your home competitively and having patience may be key.๐ก๐ฒ
Our real estate market in Southwest Indiana is gradually finding its equilibrium after the fluctuations brought about by the pandemic.๐ท
If you have any questions or want to discuss how these market trends may impact your real estate goals, feel free to reach out. We're here to help you navigate the ever-changing real estate landscape!๐ฒ
(812) 204-8968 | DaubyRealEstate.com