The first quarter 2013 residential Real Estate market for Northwest Allen county saw slightly lower average and median sales prices than the same time one year ago. Activity remained steady and the amount of time taken to sell homes improved while inventory continues at low levels. For the purposes of this study data is compiled for all sales of single family, common interest detached (villas), and common interest attached (condo's/townhomes) homes within Perry, Eel River, and Lake townships and sold between January 1st and March 31st of 2013 and data from other 2012 quarters for comparison purposes. This study does not include the sale of land,lots,multifamily homes or commercial properties.
Number of Homes Sold in the 1st Quarter of 2012 in Northwest Allen County: 119
Number of Homes Sold in the 1st Quarter of 2013 in Northwest Allen County: 117
Average Days on Market for homes sold in the 1st Quarter of 2012: 101
Average Days on Market for homes sold in the 1st Quarter of 2013: 79
With inventory struggling to keep pace from the 183 solds last quarter and the steady demand through the winter, the days on market saw a 22% improvement over this same time a year ago. The pace was similar from last quarter where it took an average 78 days to sell a home in Northwest Allen County. I expect even shorter market time going into the 2nd quarter as the average days on market for those homes sold in March dipped to 58 days. The number of homes sold in March was also the highest (42) of the 3 months last quarter.
Average Sales Price of homes sold in the 1st quarter of 2012 in Northwest Allen County: $190,929
Average Sales Price of homes sold in the 1st quarter of 2013 in Northwest Allen County: $180,077
Median Sales Price of homes sold in the 1st quarter of 2012 in Northwest Allen County: $157,000
Median Sales Price of homes sold in the 1st quarter of 2013 in Northwest Allen County: $149,900
Sales prices dropped slightly from both a year ago and last quarter in most part due solely to the February 2013 sales figures where the avg sales price dropped to $149,308 for the month, dragging the the average down for the quarter. Outside of February, January and March sales numbers were similar to the other quarters.
There are currently 221 homes for sale in Northwest Allen county with an average list price of $271,616. This translates in to a little more than 3 1/2 months of inventory. With a typically balanced market having 6 months of inventory, I expect the 2nd quarter to see increased upward pressure on sales prices and continued low market time given the inventory levels we are currently experiencing.
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, Carroll Middle schooland Maple Creek Middle school, 7 elementary schools (Arcola, Cedar Canyon, Eel River, Hickory Center, Huntertown, Oak Viewand Perry Hill)
When it comes time to buy or sell a home in Northwest Allen county,
contact me (260) 438-6289 email@example.com for the most up to date market information.
This study is not designed to be used for determining a value of a particular home within Northwest Allen county. If you have a home in Northwest Allen county and would like a complete Market Analysis done for you, I would be happy to meet with you and provide a study designed for your home. This study was done using data provided by the Indiana Regional MLS, while it may not contain information regarding the homes sold privately by owners, it does present a fair representation of the historical market in Northwest Allen County.