2013 Housing Market off to a Strong Start in Indiana

The states housing market continues to grow according to statistics released today by the Indiana Association of Realtors, through their monthly, Indiana Real Estate Markets Report.  The state reports a 22.9% increase in closed sales when comparing January 2012 to January 2013.  The median sales price of those homes rose 5.9% to $108,000; the average sales price increase 5.7% to $129,409.  And existing inventory dropped 8.6%.

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.

This good news is part of a larger trend; January 2013 marked the following consecutive year-over-year gains in home prices and market activity for the state of Indiana:

• 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.

More about Your Home Spot Blog

The Canarecci Group with Coldwell Banker Roth Wehrly Graber, established this blog in January 2009 with the intent of bringing its readers news and information, commentary and helpful information for homeowners and want-to-be homeowners.

With over 23 years of combined real estate experience, serving Elkhart, Mishawaka, Goshen, South Bend, Middlebury, Granger and the surrounding communities.   Tom and Katrina with The Canarecci Group are here for all you real estate needs. 

Tom joined Coldwell Banker in 1997, and now serves as the Managing Broker of the Elkhart County office.  Tom specializes in properties ranging from acreage, estates, waterfront, golf course,  and new construction including single family, town-homes and villa style living.

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^®).

Tom & Katrina take great pride in developing and improving their real estate business together. They made the decision that they could best serve their clients as a team.  They are two unique professionals with different styles and perspectives, working together for you.