Housing Market Continuing To Improve in 2015

First time homebuyers are expected to return to the market in 2015, according to Realtor.com.

“Home prices are expected to increase by 3-4%,” reports Nick Sommer, VP of CENTURY 21 Alliance Group in Valparaiso, IN. The Inventory is still low and even though it’s winter, it’s the perfect time to list your home.  He also added “the average sales price of homes is coming up.”

In Porter County, the number of days it took to sell a home decreased from 103 in 2014 to 90 in 2015. In LaPorte County, the number of days it took to sell a home decreased as well from 143 in 2014 to 140 in 2015.  The average sales price of single-family homes rose in Lake County. In Lake County, the price rose from $131,034 in 2014 to $142,380 in 2015. 

The interest rates are dropping toward record low levels again and new buyers are beginning to enter the market which makes it a great time to list.  This creates an advantage for both sellers and buyers.