January 2020 Vs 2019
Northwest Indiana Home Sales and Values
Let me start with THIS MARKET IS ABSOLUTELY ON FIRE! 2020 is kicking off full steam ahead, at least in the Real Estate world. Here, I only compare residential properties that have sold in Northwest Indiana with this information coming directly from the MLS.
January 2020 home sales were up 10.72% compared to 2019 with 640 closed transactions compared to 578 a year ago. That’s not the only thing that’s on the rise. The average home sale price was up a staggering 11.88% with the average sale being $198,842 compared to $177,720. Ok, I get it, bigger homes sold right? Somewhat, but the average price per square foot is up 9.07% in 2020 compared to 2019 as well. It also doesn’t end there. If you’re a buyer I’m sure you have been feeling this for some time now. Homes are also selling an average of 6.45% faster.
With everything I’ve stated here I think it’s a clear indication that the Housing market is strong here in Northwest Indiana. Personally, I think it will continue to stay this way with the low interest rates and the lack of homes on the market. Either way 2020 looks like another GREAT YEAR for SELLER and a not so fun year for BUYERS. Therefore, having a fulltime Real Estate agent as your Realtor is a good thing. They should be able to drop everything (in most cases) to try and get you in that house right away.