Sales of existing homes in the greater Northwest Indiana area tumbled in March after rebounding in February.
The Greater Northwest Indiana Association of Realtors reported 733 closed March sales in its service area, which includes Jasper, Lake, La Porte, Newton, Porter, Pulaski and Starke counties. This is a drop of 8.9 percent when compared to March 2018 when 805 closed sales were reported.
In February, the realtors’ association reported 581 closed sales in its service area, which was a 6.8 percent increase from 544 in February 2018 and an 8.8 percent increase from January.
Sales of existing homes in the greater Region area between January and March are down when compared to the same period a year ago. Closed sales year to date totaled 1,848, down 5.2 percent from 1,949 through the first three months of 2018.
Sellers are getting more for their listings. The median sales price in March was $174,999, up 10.4 percent from $158,500 a year ago.
Sellers on average received 95.1 percent of their list price in March, up 0.8 percent from 94.3 percent in March 2018.
The average sales price for homes in March was $190,148, up 7.6 percent from $176,795 in March 2018.
Year-to-date median sales price through March was $165,700, up 6.2 percent from $156,000.
Available homes for sale also are down. In March, the inventory of homes for sale totaled 2,902, down 10.3 percent from 3,234 from March 2018.
The realtors’ association reported pending sales in March also declined. There were 905 pending sales in March, down 3.1 percent from 934 in March 2018.
