NWI Residential Real Estate Market Continues to Improve

The Northwest Indiana residential real estate market remained strong as the region transitioned into fall with a steady increase of homes sold in both Lake and Porter counties, reports Jeanne Sommer, broker/owner of CENTURY 21 Alliance Group.

 “The market continued its upward trend with an increase in residential home sales and average price, as well as a decrease in days to sell,” Sommer said.

In addition, the housing inventory for Porter County was 4.87 months of supply in October, just below the national average of 5 months of supply, and Lake County was just above at 5.14 months of supply.

“A 6 month supply of homes indicates a healthy market, so these numbers show that we are in a very good market,” Sommer explained.

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Through October year over year, the number of homes sold in Porter County was up 23%, while the average sales price increased 1%. In addition, the average amount of days a home was on the market, another key factor in the health of a market, decreased 13%.

Lake County saw similar changes in activity. The number of homes sold in Lake County increased 22% and the average sales price increased 1%. In addition, the average number of days to sell decreased 13%.

All data was provided by the Greater Northwest Indiana Association of Realtors and calculated from January 1 to October 31 in 2013 and compared to January 1 to October 31 in 2012.

For more information on the latest local real estate data, contact CENTURY 21 Alliance Group at 219.462.2090.
CENTURY 21 Alliance Group
CENTURY 21 Alliance Group
(219) 462-2090
450 W Lincolnway, Suite 200 Valparaiso IN 46385
no name available CENTURY 21 Alliance Group