The Northwest Indiana residential real estate market remained strong as the region transitioned into fall with a steady increase of homes sold in both Porter, Lake and LaPorte counties, reports Jeanne Sommer, broker/owner of CENTURY 21 Alliance Group.
“The market continued its upward trend with an increase in residential home sales and average price, as well as a decrease in days to sell,” Sommer said.
In addition, the housing inventory for Porter County was 4.44 months of supply in October and Lake County was at 4.85 months of supply. LaPorte County came in at 6.15.
“A 6 month supply of homes indicates a healthy market, so these numbers show that we are in a very good market,” explained Nick Sommer, owner of CENTURY 21 Alliance Group.
Through October the number of homes sold in Porter County was up 9% over last year, while the average sales price increased 1%. In addition, the average amount of days a home was on the market, another key factor in the health of a market, decreased.
Lake County saw similar changes in activity. The number of homes sold in Lake County increased 8% and the average sales price increased 1%. In addition, the average number of days to sell decreased.
LaPorte County also saw an increase of sales up to 7%. The average sales price also increased by 5% while the average days on the market decreased.
All data was provided by the Greater Northwest Indiana Association of Realtors and calculated from January 1 to September 30 in 2014 and compared to January 1 to September 30 in 2015.
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 ten 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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