Search all Northwest Indiana Real Estate listings

Portage, IN Housing Market

Portage Indiana Home Values July 2017 Vs. 2018

  Well, everything you have heard is completely true. The Real Estate market is doing exceptionally well right now. Home prices are rising, mainly because of the lack of inventory in the market place. Here I have some numbers for your, so you know exactly what is going on in the Portage, IN Real Estate market. I compared July 2017 to July 2018 in this report and I counted all residential properties in Portage Indiana.

One thing I look at is a price per square foot as an indicator. See the average or median is 1 way a lot of people judge value or market conditions. That to me doesn’t say anything because you must compare that property to what was being sold in the market place. In 2018 there was a 13.75% increase per square foot, but the average sale price increase was a minimal 2.238% increase and the Median went down. Therefore, I get a price per foot average instead of what everyone else does. You can have a 2000 square foot home sell for 150 1 year then a 1000 square foot home sell for 150K the following. So, the average and median stay the same but that’s a 50% increase per square foot.

So why are the home values going up? The big reason is the lack of inventory on the market in Portage. There were only 38 sales compared to 47 the year before. That’s -19.15% from the prior year which means there’s a lot less inventory that people want which raises the home values for the houses people are buying.

Last and not least, or is it finally? Who cares, you understand where I’m going with this. Another big number is how fast homes are selling. See, homes in Portage Indiana are selling on average 35.21% faster in July of 2018 compared to 2017.

The big thing with this and the reason I write this blog is, so you know, no matter if you’re a buyer or seller how the Real Estate market is currently. If you’re looking for a Realtor to help you my phone is always on! (219)406-7195

Start your Home Search today!

Leave a Reply

About Brent Wright

Picture of Brent Wright

Brent Wright

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

Reviews

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.

Review Brent Wright on Zillow.com

Lender

Chuck Dayton

5

( 17 reviews )

(219) 763 3376 x4207

Lender Website