Taking a look locally; Elkhart County boosted a 24.4% increase in the median sales price to $100,000 and a 13.2% increase in closed sales. St. Joseph County experienced a 15.6% drop in the median sales price and a 2.2% increase in closed sales. Both Lagrange and Koscuisko counties saw drops in the median sales price at the same time demonstrating gains in closed sales. Koscuisko county nearly doubled the number of closed sales over January of last year.
• The number of closed home sales has increased year-over-year for 19 consecutive months,
• The median sale price of homes has increased for 14 consecutive months,
• The average sale price has increased for 13 consecutive months,
• Sellers received a greater share of their original list price for the 11th consecutive month, and
• The number of pending home sales has increased for 16 consecutive months.
Tight inventory combined with strong buyer demand is causing home values to increase - great news for sellers and potential sellers. But, borrowing costs are still low and and affordability remains extremely atractive - great news for buyers as well.
As an active member of the Elkhart County Association of Realtors, Katrina brings to the profession extensive experience in residential real estate. Licensed since 2004, Katrina moved to Coldwell Banker in 2008 to be part of a national network of professionals, which dates back to 1906. Katrina specializes in buyer representation and is an Accredited Staging Professional (ASP®).