With all of the rain that Northwest Indiana has been receiving lately, residents need something to keep their spirits sunny. Fortunately, the local housing market is something that has stayed positive and bright despite the turbulent weather.
During the month of July, both Lake and Porter County have experienced a consistent amount of sales and an increase in the percentage of sales to list price. The percentage of sales to list price has increased from 96.1% to 96.8% since July of last year in Porter County and from 96.2% to 96.4% in Lake County. Because properties are being priced to sell, the chance of multiple offers has increased and homes are typically spending less time on the market.
CENTURY 21 Alliance Group agents gathered last Wednesday to discuss July's housing market trends and receive advice from Jeanne Sommer, broker/owner of CENTURY 21 Alliance Group in Valparaiso, IN. “Usually as the weather cools down, most sellers take their homes off the market due to less activity," reports Sommer. "This is great news for motivated sellers who choose to remain on the market since there is less inventory." If one needs incentive to keep their property on the market when the weather starts to change, look no further. Sommer reassures that, "when looking at sales month by month in 2013, there is not a huge difference in the amount of sales throughout the fall when compared to the spring, yet the selling price is hiked up due to an increase in demand."
July's market activity has pointed to a higher average sales price in the past seven months when compared to the same time period in 2013. The average price of single-family homes rose from $135,407 to $150,619 in Lake County and from $186,990 to $193,066 in Porter County.
All data was provided by the Greater Northwest Indiana Association of Realtors and calculated from January 1 to July 31 in 2014 and compared to January 1 to July 31 in 2013. For more information on the latest local real estate data, contact CENTURY 21 Alliance Group at 219.462.2090.
About CENTURY 21 Alliance Group
CENTURY 21 Alliance Group is a full-service brokerage firm specializing in residential and commercial listings. As Northwest Indiana’s premier real estate agency, CENTURY 21 Alliance Group has earned CENTURY 21’s Quality Service Award eight years in a row. The realty company is located at 450 Lincolnway, Suite 200 in Valparaiso, IN and has listings in Porter, Lake and LaPorte counties. For more information, call (219) 462-2090 or visit www.21alliance.com.