The Allen county Residential Real Estate market has been steadily improving over the last 12 months and is demonstrating significant improvement over the last 3 months, presenting a great opportunity for sellers who may have been waiting for an improved market before deciding to sell their current home. Below I've charted the improvement in the number of sales, average sales price, and days on market.
The data for this report includes only residential sales of single family homes, villas, and condominiums within Allen county, IN. This report does not include any information regarding multi-family units, land, or commercial properties.
Home sales have improved 8.8% to 4717 homes sold in the last 12 months ended May 2013 compared to the 4335 homes sold at the end of June 2012 and the market is seeing sales numbers similar to those in 2007 before contracting after the housing market collapse.
Not only are we seeing an improvement in the number of homes sold. The number of days on average that those homes are on the market has improved as well. Improving 7.5% to an average of 74 days at the end of May 2013. As of this writing, the average days on market for homes sold so far in June is 69....so I would expect to see a continual decrease in the amount of time it takes to sell a home in Allen county going into the height of summer sales
Of course one of the most important decisions regarding whether to sell your home or not is sales price. The Average sales price in Allen county has improved 5.6% over the last 12 months to $132,855 at the end of May 2013 for the trailing 12 months. This is a higher avg sales price than the market has seen in any of the previous 10 yrs in Allen county over a 12 month period.
Inventory has struggled to keep pace in some areas within Allen county and are currently experiencing less than 4 months of supply. These conditions favor sellers at this point, making this summer season a great opportunity for homeowners to take advantage of an improved market.
Don't make a move without the latest market information!
When it comes time to buy or sell a home in Allen county,
contact me (260) 438-6289 bkuhns@cbrwg.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 Allen county. If you have a home in 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 Allen County.
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