It's been a long time since my last posting. I must admit that I was all excited about Blogging when I first joined Active Rain, but as time went by, the amount of time involved in maintaining regular postings got to be too much. Therefore, I put off doing it and then got out of the habit. With a new year approaching, I've made it a resolution to clean up my act and post at least weekly. I specialize in collecting and analyzing market data and will try to keep that information current. Since real estate is such a local phenomena, you may wonder about the market in your specific neighborhood. I'll provide that if you call or email a request.
This has been a challenging year for real estate in Muncie and the surrounding areas, but there have been some bright spots. We didn't experience the price bubbles that occurred in CA, NV and other hot areas and as a result, we haven't suffered from the price deflations they have seen. As of the end of Nov, our average sale price is actually up by 13% over last year. We have seen a decline in unit sales and an increase in days on market, but there has een a nice decrease in the inventory of higher priced homes.
In spite of the increased sale price, Muncie is the nation's second most affordable city, of those which host a Div 1A University. This means that the overwhelming majority of our residents can afford our median priced home, which is not the case in much of the country.
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