The Real Estate market for Northwest Allen county Indiana remained fairly solid for the third quarter of 2011. The 3rd quarter saw the first drop in median sales price in 3 quarters after a 13% increase since the end of 2010.
Year over year Northwest Allen showed increases in all major categories including a 7.5% increase in the number of homes sold from 136 to 147 in the 3rd quarter of 2011. A steady measure of the median price per square foot at $79.33 and a slight increase in the days on market from 67 to 73 for the 3rd quarter of 2011.
Year over year the Median Sales price of $160,000 for the 3rd quarter of 2011 was almost a 3.5% increase.
The numbers are down a little bit from the 2nd Quarter of 2011, but don't forget we had that whole "government shutdown" debt ceiling thing going on around the first of August that put a lot of financial decisions on ice until it they got it cleared up. 147 homes sold in the 3rd quarter, a decline of 32 homes from the 2nd quarter of 2011. Median days on market was 73 days, up from 46 days last quarter and the median price per square foot was $79.33 a decline from $83.00 in the 2nd quarter.
Median sales prices dropped to $160,000 from $164,000 in the 2nd quarter of 2011
There were 270 active listings in Northwest Allen county at the time of this report. If we see a similar decline in activity in the 4th quarter that we saw in 2010, I would anticipate that buyers might see some good opportunities in the market here going forward. Continued positive interest rates will help activity in the area while the ongoing relocation of 1000+ Navistar employees out of the area may hamper the market in some areas.
This report is for single family site-built homes in Northwest Allen County, Indiana. Data is provided from the FWAMLS for mls area AL01 or Perry, Lake and Eel River townships for the 3rd Quarter 2011, the 2nd Quarter of 2011 and 3rd Quarter of 2010 for comparative purposes. This information is provided solely to provide an overview of the market in this area and is not meant to be used for evaluating a particular homes value. The data is deemed reliable but not guaranteed.
I live in Northwest Allen County and enjoy all that living here affords me and my family..I'm not just another Realtor, I'm your neighbor.
Northwest Allen County is served by the Northwest Allen County school system which is made up of Carroll High School, the Freshman Campus, Carroll Middle schooland Maple Creek Middle school, 7 elementary schools (Arcola, Cedar Canyon, Eel River, Hickory Center, Huntertown, Oak Viewand Perry Hill) and a Youth Services Center.
Contact me for a free market analysis if you are interested in buying or selling a home in the Northwest Allen county area. Don't buy or sell a home in Northwest Allen County without contacting me first for the most up to date market information. I look forward to the opportunity of earning your business.
Brian Kuhns, REALTOR®
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