Sales of existing homes in Northwest Indiana in March appeared unaffected by the crisis created by the COVID-19 pandemic.
The latest information from the Greater Northwest Indiana Association of Realtors, citing data from the Indiana Association of Realtors, reported closed sales totaled 828 in March, up 13% when compared to 733 closed sales in March 2019. Sales in February totaled 622, a 7.1% increase when compared to February 2019.
Year-to-date home sales are running ahead of last year’s pace. Through March, there were 2,042 closed sales in the Region, up 10.5% from 1,848 between January and March 2019.
The median sales price of homes sold was $178,500, up 2% from $174,999 a year ago. Sellers received 95.4% of their list price, which was a 0.3% improvement from 95.1% the same month last year.
Realtors recognize the impact of the crisis on home sales still is uncertain as data runs a month behind. Rising sales prices likely lured more sellers into the market as new listings rose 2% in March when compared to a year ago.
The average sales price in March was $201,155 up 5.8% from $190,148 in March 2019.
GNIAR’s service area includes Jasper, Lake, LaPorte, Newton, Porter, Pulaski and Starke counties.
