BEDFORD The local housing market in Bedford is showing signs of softening, with inventory increasing significantly and the ratio of sales price to original list price dropping, according to the latest statistics from the Indiana Association of REALTORS® (IAR), shared by the Bedford Board of REALTORS®.
The data indicates that while the statewide market remains tight on inventory, Bedford is seeing a notable shift toward more available housing and increased price flexibility.
Local Bedford Market Trends
Bedford’s housing supply has shown considerable improvement both month-over-month and year-over-year:
- Inventory: The average daily inventory in Bedford reached 203 homes. This marks a 3% month-over-month increase and a 19% year-over-year increase, indicating a substantial shift toward more available housing locally.
- Sales Price vs. Original List Price (SP/OLP): For the week ending September 22, the average sales price compared to the original listing price was 89.5%, a steep drop from the 98.8% recorded the previous week. The four-week average is now 92.6%.
Statewide Indiana Market Overview
Indiana’s overall housing market shows similar signs of price adjustments, even as inventory remains constrained:
- Sales Price vs. Original List Price (SP/OLP): The statewide three-week average is 95.3%, with the latest week showing a slight dip to 95.2%.
- Price Drops: Price reductions are becoming more common across the state. The three-week average of properties with price drops is 49.7%, and the latest weekly data reached 50.3%.
- Inventory: Despite the local improvement in Bedford, statewide housing supply remains 10% below 2019 levels, underscoring continued tight market conditions in many areas of Indiana.
The most recent data suggests that the Bedford market is adjusting with more homes available and slightly softer sales-to-list ratios, aligning with the broader state trend toward increased price flexibility.
