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NWI Home Values and Sales Jan 2019 Vs 2018

January 2019 vs 2018 Home Sales and Values

Northwest Indiana Home sales have been extremely strong year after year. With that being said, are we starting to see it reverse or maybe just level off?

One thing that really caught my eye was the number of Residential properties closed in the month of January. The closed transactions in Jan of 2019 was down 11.66% with 568 Closed transactions compared to 643 in the prior year. That’s a rather drastic reduction in homes sold overall. Now, is that really a bad thing? Well, if you’re a buyer, yes! If you’re a seller, NO! See, there’s a lot of buyers in the market that can’t find exactly what they’re looking for which means when those nice, ready to move in homes get listed, they are selling rather quick! In fact, homes sold 8.23% faster (78 days) in 2019 compared to 2018.

Another key factor is the price per square foot. See, I work with that as an average instead of the median home sales price. I feel it gives a more accurate look at the current market in the area. In 2019, the average price per foot was up 7.97% ($95.16), which is a huge increase.

In my eyes, the reduction in closed transactions is because of a lack of inventory on the market, which in return brings the home prices up. Especially when the homes are show ready and priced right. We are still currently in a sellers-market at least for most home prices in Northwest Indiana.

 

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About Brent Wright

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Brent Wright

Real Estate Professional - Realtor

BrentWright@McColly.com

219-706-2998219-706-2998 main

Brent W. Wright - McColly Real Estate

Serving Northwest Indiana! Beverly Shores IN, Burns Harbor IN, Cedar Lake IN, Chesterton IN, Crown Point IN, DeMotte IN, Dune Acres IN, Dyer IN, East Chicago IN, Gary IN, Griffith IN, Hammond IN, Hebron IN, Highland IN, Hobart IN, Kouts IN, Lake Station IN, Long Beach IN, Lowell IN, Merrillville IN, Munster IN, Ogden Dunes IN, Portage IN, Porter IN, Schererville IN, Saint John IN, Valparaiso IN, Wanatah IN, Westville IN, Whiting IN, Winfield IN

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5user8784985

Brent has stuck by my side through the whole process. If I want to see a house, immediately he sets up a time and we are looking at the house. You can always get ahold of him. He is very knowledgeable too!

5TeresaTaytumm

Brent is an amazing person, He helps in any way he can to his fullest! He isn't just doing his job, he goes above and beyond. With any question given, he has an answer every time and even if he did not know the answer, he would do whatever research needed so... (more)

5chris reed28

Brent is very hardworking. Best realestate agent to have. He showed me tons of homes in my price range and offered his expert opinion and background of the neighborhoods we were in.

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