First time homebuyers are expected to return to the market in 2015, according to Realtor.com.
“Home prices are expected to increase by 3-4%,” reports Nick Sommer, VP of CENTURY 21 Alliance Group in Valparaiso, IN. The Inventory is still low and even though it’s winter, it’s the perfect time to list your home. He also added “the average sales price of homes is coming up.”
In Porter County, the number of days it took to sell a home decreased from 103 in 2014 to 90 in 2015. In LaPorte County, the number of days it took to sell a home decreased as well from 143 in 2014 to 140 in 2015. The average sales price of single-family homes rose in Lake County. In Lake County, the price rose from $131,034 in 2014 to $142,380 in 2015.
The interest rates are dropping toward record low levels again and new buyers are beginning to enter the market which makes it a great time to list. This creates an advantage for both sellers and buyers.
All data was provided by the Greater Northwest Indiana Association of Realtors and calculated from January 1 to January 31 in 2015 and compared to January 1 to January 31 in 2014. For more information on the latest local real estate data, contact CENTURY 21 Alliance Group at 219.462.2090.
ABOUT CENTURY 21 ALLIANCE GROUP
CENTURY 21 Alliance Group is a full-service brokerage firm specializing in residential and commercial listings. As Northwest Indiana’s premier real estate agency, CENTURY 21 Alliance Group has earned CENTURY 21’s Quality Service Award seven years in a row. The realty company is located at 450 Lincolnway, Suite 200 in Valparaiso, IN and has listings in Porter, Lake and LaPorte counties. For more information, call (219) 462-2090 or visit www.21alliance.com.
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