Single-family existing home prices rose in both Lake and Porter Counties in September according to the latest real estate market data, reports Jeanne Sommer, broker/owner of CENTURY 21 Alliance Group in Valparaiso, IN.
Average sales price increased from $137,970 in 2013 to $144,729 in Lake County in 2014 and from $187,169 in 2013 in Porter County to $194,537.
Also, during the month of September, both Lake and Porter County experienced percentage decreases in sales to list price.
Additionally, the number of days a property was listed on the market went down from 128 last year in Porter County to 123 this year.
“The market has been steadily improving since last winter. Interest rates continue to remain low. The only piece missing is the lack of new construction. Our market needs more new construction to boost the inventory levels over what existing home sales have to offer. This will kick the market into another gear for the balance of 2014 and into 2015,” according to Nick Sommer, broker/co-owner of CENTURY 21 Alliance Group in Valparaiso, IN.
All data was provided by the Greater Northwest Indiana Association of Realtors and calculated from January 1 to September 30 in 2014 and compared to January 1 to September 30 in 2013. For more information on the latest local real estate data, contact CENTURY 21 Alliance Group at 219.462.2090.
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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 seven 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.
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