Northwest Indiana Business Magazine

Northwest Indiana’s Leading Regional Business Magazine Since 1991

  • Home
  • Industries
    • Banking
    • Education
    • Health & Wellness
    • Manufacturing & Technology
    • Professional Services
    • Real Estate & Building
    • Small Business & Entrepreneurship
    • Tourism & Recreation
    • Transportation & Logistics
  • Community
    • Around the Region
    • Business News Bits
    • Economic Development
    • Events
    • Leadership
    • Making a Difference
  • Lifestyle
    • Arts & Entertainment
    • Sports
  • Opinion
    • Viewpoint
    • Publisher’s Note
  • Jobs
  • Magazine
    • Current Issue
    • Archive
    • Advertise With Us
    • Business News eNewsletter
    • Subscriptions and Renewals
    • Contributing Writers
    • Editorial and Business Advisory Board
    • Magazine Team
  • About
    • Contact
    • Advertise With Us
    • Subscriptions and Renewals
    • Our History
    • Privacy
    • Terms
  • Log In
You are here: Home / Community / Business News Bits / Sales of existing homes in greater Northwest Indiana area finish 2018 up 1.6 percent from previous year

Sales of existing homes in greater Northwest Indiana area finish 2018 up 1.6 percent from previous year

February 12, 2019 by Larry Avila Leave a Comment

Home Sales2

The Greater Northwest Indiana Association of Realtors reported sales of existing homes in the greater Region area totaled 10,849 in 2018, up 1.6 percent from 10,683 closed sales logged in 2017

A drop in homes available for sale, rising prices and mortgage interest rates may have played a role in sales of existing homes finishing 2018 slightly above 2017.

The Greater Northwest Indiana Association of Realtors reported sales of existing homes in the greater Region area totaled 10,849 in 2018, up 1.6 percent from 10,683 closed sales logged in 2017. The association’s service area includes Jasper, Lake, La Porte, Newton, Porter, Pulaski and Starke counties.

The median sales price and prices sellers received for their homes saw increases in 2018, when compared to 2017. The average median sales price was $165,000, up 6.5 percent from $154,900 in 2017. Shrinking inventories and rising prices traditionally have motivated buyers to make a purchase over fear that options could become more limited and list prices could continue rising.

The association said sellers on average received 95.3 percent of their list price, which was a 0.5 percent increase from the previous year.

For the month of December, closed sales in the greater Region area totaled 780, a 5.2 percent drop from 823 closed sales recorded in December 2017. The median sale price of homes was $161,000, up 7.3 percent from $150,000 in December 2017.

Sellers in December received 94.5 percent of their list price, a 0.2 percent increase from December 2017’s figure of 94.3 percent.

New listings for 2018 totaled 14,035, which was 2.7 percent down from the 14,426 homes listed in 2017.

Available homes for sale in December totaled 2,924, down 8.1 percent from 3,181 available for sale in December 2017.

The association said pending sales in December totaled 633, down 8.1 percent when compared to 689 in December 2017. The average sales price for homes in December was $185,000, up 7 percent from December 2017’s average price of $172,979.

  • About
  • Latest Posts
Larry Avila
Follow me

Larry Avila

Larry is an award-winning journalist with more than 25 years of experience working with daily newspapers and business-to-business publications around the Midwest. Avila, a graduate of Central Michigan University, is a Michigan native. He resides in Crown Point.
Larry Avila
Follow me

Latest posts by Larry Avila (see all)

  • Ivy Tech Community College selling former Gary campus to charter school - February 18, 2019
  • Pulaski County-based BraunAbility expanding by investing $7.5 million in Indiana operations - February 18, 2019
  • New manager named for Gary branch of Teachers Credit Union - February 15, 2019

Filed Under: Business News Bits, Real Estate Tagged With: 2018 sales of existing homes, Around the Region, December 2018 home sales, Greater Northwest Indiana Association of Realtors, home sales, Region home sales 2018

Leave a Reply Cancel reply

You must be logged in to post a comment.

Current Print Issue

Igniting our innovation in 2019

Around the Region: Feb.-March 2019

Making their own way

Indiana taking lead in farm innovations

Outside-the-box projects

A higher level of care

A potential literary goldmine

Philanthropic muscle

Out & about in Northwest Indiana: Feb.-March 2019

Out & about in greater South Bend: Feb.-March 2019

A convenient smoothie

House calls to Guatemala

A plan to ‘ignite’ change

Northwest Indiana Business News

Categories

Archives

  • Home
  • Current Issue
  • Business News Bits
  • Archive
  • Advertise With Us
  • Subscriptions and Renewals
  • Privacy
  • Terms
  • Contact

© Copyright 1991-2019 Linker Media Group, Inc · All Rights Reserved