The Residential Real Estate market in NW Allen county for the 4th Qtr of 2011 continued to improve. The number of units sold bettered both the 3rd Qtr of 2011 and the 4th Qtr of 2010.
The year over year comparisons for the 4th Qtr of 2011 saw large improvements in most all categories except a small increase in median cumulative days on market. As previously mentioned the number of homes sold increased pretty dramatically from this same time last year by 54 Homes or more than a 55% improvement to 151 Homes sold. The median price per sq ft also rose to $79.40/sq ft nearly 6% better than the 4th Qtr of 2010. Median days on market was the only area that saw a weeker number increasing to 86 days vs the 73 days in 2010 or 18% longer.
The Median Sales price of $155,000 for the 4th Qtr of 2011 was also a strong number, moving up from 2010's 4th Qtr Median Sales price of $145,750 or an increase over 6%
At a time when most people would think the Real Estate market slows down, the 4th quarter in Northwest Allen county remained strong when looking at comparisons to the 3rd quarter. The number of homes sold improved slightly to 151 or up 2% vs the 148 Homes sold in the 3rd quarter of 2011. While the Median Sales Price of $155,000 was down from the $160,000 mark in the 3rd Qtr of 2011, the median price per square foot remained steady reflecting smaller homes being sold more so than any reduction in overall market value. The median cumulative days on market rose a little over 19% from the 72 days in the 3rd quarter to 86 days in the 4th quarter.
The Median Sales price saw a small decline to $155,000 from the $160,000 mark set in the 3rd quarter of 2011. Still a strong number given that the price per square foot didn't change for this same time period.
Overall continued attractive interest rates I think have supported the strong 4th quarter of 2011 and will most likely contribute to the market going forward. Some slightly better economic and employment data could also contribute to a increase in numbers for the 1st quarter of 2012. There are currently 225 Homes Actively for Sale in Northwest Allen county as of this writting (Jan. 6th, 2012) down from the previous quarter's number of 270. If inventory continues at these reduced levels and the weather continues to remain mild for this time of year, we may see an opportunity for sellers to enter into a favorable market ahead of the normal Spring activity.
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 4th Quarter 2011, the 3rd Quarter of 2011 and 4th 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.
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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.
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