In St. Joseph County, the median sales price in June was $192,000, up 20.6% from this time last year! And just like we are seeing nationally, the price increase is driven by the supply vs. demand imbalance. While the pace of home sales is up 23% over last year, the number of homes available is down 26.4% to an incredibly low 1-month supply
Normally after a secondary selling season in the fall, we experience a lull in real estate over the holidays before things pick up as the weather warms up. But this is not like any other year. In fact, our lull came LAST March and April as we all tried to figure out what the pandemic was. As we slowly came to understand the importance of hand sanitizer, washing our hands, social distancing, mask wearing and so much more, real estate sales took off in May and June and haven't slowed since.