Sales of existing homes got off to a weak start in January.
The Greater Northwest Indiana Association of Realtors, which represents Jasper, Lake, La Porte, Newton, Porter, Pulaski and Starke counties, reported closed sales of existing homes in the greater Region area totaled 534 in January, down 11 percent from 600 recorded the same month a year ago.
The slow start follows 2018 which saw sales of existing homes in the greater Region area total 10,849 for the year, up 1.6 percent from 10,683 closed sales logged in 2017.
All categories tracked by the realtors’ association declined in January. Historically, home sales slow during the winter months and gain momentum during the spring and summer.
New listings for January totaled 875, down 2 percent from 893 logged the same month last year. The median sales price of homes was $157,000, down 0.6 percent from $158,000 in January 2018.
Sellers also received less money for their homes in January, averaging 93.5 percent of their list price versus getting 94.2 percent of list price in January 2018. The average sale price in January was $170,678, down 3.8 percent from $177,375 reported last January.
Homes available for sale in the greater Region area totaled 2,911 in January, down 7.3 percent from 3,139 in January 2018.
