The Northwest Indiana real estate market continued to improve through the month of May. For the fifth month in a row this year, single-family existing homes sales and prices rose in both Lake and Porter Counties according to the latest real estate market data, reports Jeanne Sommer, broker/owner of CENTURY 21 Alliance Group in Valparaiso, IN.
The market continues to improve in Northwest Indiana. “The market is very healthy,” Sommer said, “Our office had the best May we’ve had in the last five to six years.”
According to the latest real estate data, both Lake and Porter Counties saw a continued increase in residential sales, up 27% for Lake and 21% for Porter over last year. Additionally, both counties had more sales for a higher average price in fewer days during the first five months of 2013 when compared to the same months in 2012.
The number of single-family existing home sales increased from 1,601 in Lake County in 2012 to 2,028 in 2013 and from 633 in Porter County to 769. Meanwhile, the average sales price on single-family homes rose from $127,098 to $131,488 in Lake County and from $178,357 to $180,475 in Porter County.
In addition, the number of days a property was listed on the market was down from 144 last year in Lake County to 128 this year, while Porter County saw a decrease from 154 to 151. All data was provided by the Greater Northwest Indiana Association of Realtors and calculated from January 1 to May 31 in 2013 and compared to the same time period in 2012.
For more information on the latest local real estate data, contact CENTURY 21 Alliance Group at 219.462.2090.