The July reports from the Greater Northwest Indiana Association of REALTORs (GNIAR) MLS are in and mixed results are evident. The end of the homebuyer tax credit seems to have had a negative effect on median home sales that had before seen extremely high volume of sales. Good news is seen in months supply of inventory above median categories of $200K-$500K, where sales decreased inventories. Homes under $100K still remain the hottest with only 4.4 months-supply.
Luxury home sales continue to struggle in the region, where high supply and low demand has kept inventories at high levels. With historically low interest rates, and an improving consumer sentiment, these price ranges should see demand increase in time, but many are predicting continued challenges for these home sellers. Location, condition, and features of the home have never been more key for home sellers, as buyers are being very choosy in their selection.
New home sales are showing signs of improving in the selling season, however builder inventory is still relatively low due to good supply of resale inventory, and the conservative approach being taken by construction lenders. -- Matt Evans, Keller Williams Realty. 219-241-8401 www.themattevansteam.com
| Valparaiso | |||||||
| MSI Report | 2010 July | Inventory as of | 5-Aug-10 | ||||
| Single Family | |||||||
| 1-Month | TOTAL | 12-Month | Absorb Rate | ||||
| Price | ACTIVE | PENDING | SOLD | SUPPLY | Solds | per month | MSI |
| 0-99,999 | 34 | 9 | 7 | 43 | 117 | 9.8 | 4.4 |
| 100,000-149,999 | 96 | 14 | 7 | 110 | 179 | 14.9 | 7.4 |
| 150,000-199,999 | 94 | 14 | 9 | 108 | 188 | 15.7 | 6.9 |
| 200,000-249,999 | 103 | 6 | 12 | 109 | 142 | 11.8 | 9.2 |
| 250,000-299,999 | 86 | 10 | 6 | 89 | 89 | 7.4 | 12.0 |
| 300,000-399,999 | 90 | 6 | 7 | 96 | 72 | 6.0 | 16.0 |
| 400,000-499,999 | 44 | 2 | 2 | 46 | 22 | 1.8 | 25.1 |
| 500,000-749,999 | 32 | 0 | 0 | 32 | 12 | 1.0 | 32.0 |
| 750,000-999,999 | 23 | 0 | 1 | 23 | 2 | 0.2 | 138.0 |
| 1,000,000+ | 13 | 0 | 0 | 13 | 0 | 0.0 | #DIV/0! |
| ACROSS ALL PRICES | 615 | 61 | 51 | 669 | 823 | 68.6 | 9.8 |
| Porter County | |||||||
| MSI Report | 2010 July | Inventory as of | 5-Aug-10 | ||||
| Single Family | |||||||
| 1-Month | TOTAL | 12-Month | Absorb Rate | ||||
| Price | ACTIVE | PENDING | SOLD | SUPPLY | Solds | per month | MSI |
| 0-99,999 | 90 | 21 | 21 | 111 | 245 | 20.4 | 5.4 |
| 100,000-149,900 | 260 | 31 | 20 | 291 | 417 | 34.8 | 8.4 |
| 150,000-199,999 | 266 | 24 | 20 | 290 | 382 | 31.8 | 9.1 |
| 200,000-249,999 | 200 | 14 | 14 | 214 | 218 | 18.2 | 11.8 |
| 250,000-299,999 | 146 | 15 | 10 | 161 | 132 | 11.0 | 14.6 |
| 300,000-399,999 | 133 | 10 | 8 | 143 | 99 | 8.3 | 17.3 |
| 400,000-499,999 | 78 | 2 | 4 | 80 | 32 | 2.7 | 30.0 |
| 500,000-749,999 | 58 | 1 | 0 | 59 | 15 | 1.3 | 47.2 |
| 750,000-999,999 | 37 | 0 | 2 | 37 | 1 | 0.1 | 444.0 |
| 1,000,000+ | 33 | 0 | 0 | 33 | 3 | 0.3 | 132 |
| ACROSS ALL PRICES | 1301 | 118 | 99 | 1419 | 1544 | 128.7 | 11.0 |
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