Sales of existing homes across Northwest Indiana showed strong performance in September.
Data from the Indiana Association of Realtors shows closed sales for Jasper, Lake, La Porte, Newton, Porter, Pulaski and Starke counties totaled 1,268, up 31.3% when compared to September 2019 closed sales of 966. Closed sales in the Region between January and September totaled 8,342, up 4.5% when compared to 7,983 closed sales through the same period last year.
The situation is similar across the state. The state realtor’s group reported closed sales for September totaled 9,629 up 20.7% when compared to September 2019.
“There’s simply not enough homes on the market to meet demand,” said Bernice Helman, a Terre Haute realtor and 2020 president of the Indiana Association of Realtors. “When you pair determined buyers and low interest rates, you get the fierce competition and incredible price gains we’re now seeing in most communities across the state.”
Inventory of available homes across Northwest Indiana in September totaled 1,769, down 49.1% from the 3,474 homes on the market in September 2019.
Low inventory also has translated to sellers getting more for their listings. Sellers received 97.6% of their list price in September, up 1.9% from 95.8% of list price in September 2019.
Sellers are returning to the market in the Region. New listings in September totaled 1,296, up 3.7% from 1,250 in September 2019.
The average sales price of homes in Northwest Indiana was $238,053 in September, up 14.4% from $208,025 the same month last year.