Valparaiso, Indiana Home Market Nearly "Balanced" Under $200,000

The market for homes in the Northwest Indiana town of Valparaiso is showing signs of balance at some prices.  Based on the single family stats thru June 2010 on the GNIAR MLS, and based on inventory as of July 6, the months supply of inventory under $100,000 is just 4.4 months, and from $100,000 to $200,000 the range in months supply falls between 7.0 and 7.6 months.  A truly balanced market, where supply and demand is most equal is 6 months supply of inventory. 

For the year long period ending June 30, 2010, single family house sales in Valpo were at 844 units total, with 724 homes on the market, for an average months supply of inventory across all price bands of 10.3 months.  The market as a whole is still a buyer's market, so good deals are still very apparent.  Bad news for the market is that homes above $400K are seeing a 28 month supply or more.  At these upper and luxury home price ranges, it has never been more important for home sellers to price their home right from the start, and have it in top condition for photos and showings.  We encourage all Sellers to be in the bottom third of pricing, and the top third of condition to achieve a sale. 

Below is the complete chart for Valparaiso ending June 2010.