According to the Greater Northwest Indiana Association of REALTORS and based on supporting MLS data, sales of existing single family homes in the region increased nearly 12 percent in October 2009 over the same period last year. 

Home values also showed signs of a rebound as the median house price rose over 4%.  Many credit the recent homebuyer tax credit and its pending expiration with adding enough buyers to the marketplace.  Since Spring of 2009, many REALTORs have assisted first time buyers and those re-entering the market after 3 years to "cash-in" on the $8,000 credit in Northwest Indiana, which includes Porter, Lake, Laporte, Jasper, and Newton County.  Cities in the region include Valparaiso, Chesterton, Kouts, Merrillville, Crown Point, among others. 

A home for sale on Tratebas Road in Chesterton, Indiana.

In Porter County, Indiana, the news was even better as existing single-family home sales went up nearly 24% over October of the previous year.

Other good news is that the months supply of inventory in the region has dropped under the 10-month mark after reaching as high as a 14 months supply of inventory earlier in the year.  However, the market is still considered a buyer's market, as a balanced one is considered to have a 6-months supply of inventory. 

For more information on the home values in Northwest Indiana or relocation to the region, contact Matt Evans Broker Associate, REALTOR at Keller Williams Realty at 219-241-8401 or thru his website at www.themattevansteam.com.   Licensed in both Indiana and Colorado, Matt is a native of Valparaiso and focuses on Porter County Real Estate.