NWI Residential Real Estate Shows Continued Stability

By: Century 21 Alliance Group Last Updated: December 20, 2016

rot2The Northwest Indiana residential real estate market continues to show promise with an overall increase of homes sold in Porter, Lake, and LaPorte counties in comparison to this time last year.

Porter County's number of homes sold through November has increased by 10% compared to last year, while the average sales price also increased. There was a decrease in the number of days a home was on the market.

Lake County reports that there was an 11% increase in the number of homes that sold over the last year as well as an increase in the sales price.

LaPorte County followed this pattern with an 8% increase in the number of homes sold and an average sale price increase.

As we approach the end of 2016, these positive numbers give us an optimistic outlook on what the market will bring in 2017. We hope to see a continued increase in both the sales price and number of homes sold with a continued decrease in the number of days a home is on the market.

All data was provided by the Greater Northwest Indiana Association of Realtors and calculated from January 1 to November 30 in 2015 and compared to January 1 to November 30 in 2016.

For more information on the latest local real estate data, contact CENTURY 21 Alliance Group at 219.462.2090.