The Current State of Inventory in Our Local Market

    Housing inventory in our area is currently low. So what does this mean for market conditions, overall?

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    As you probably already know, housing inventory is very low in today’s market. And while inventory levels can vary depending on location and price point, there aren’t, in general, enough homes for sale to meet the high level of buyer demand.

    Looking at Vanderburgh County, one area of the market seeing particularly strong demand is in the price range at and below $250,000. Given that anything below six months of supply constitutes a seller’s market, the two months of available inventory in this price point leave buyers with few properties to choose from. The strongest price point in Vanderburgh County, though, is between $100,000 to $150,000. In this range, there’s just one month of supply.

    There aren’t enough homes in our market right now to meet the high level of buyer demand.

    Inventory levels are very similar in these same price points for Warrick County. For both counties, the market favors sellers up to the price points at and above $500,000, as there is much less demand for homes in this range.

    As for other area markets, Spencer County has a four-month supply while Posey County has a three-month supply. Looking at these figures, it’s clear that most of our local markets are currently favoring sellers.

    If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

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