The first half of the 2014 residential Real Estate market in Northwest Allen County dug itself out of the never ending winter with upward pressure on pricing due to lower than normal inventory. The median sales price rose 7% year over year and nearly 5% since the end of December. The number of homes sold was down slightly during the first half as a result of lower inventory numbers.
Data compiled for this study is for single family, villa, and condo/townhomes within Perry, Eel River, and Lake townships in Allen county Indiana sold between January 1st and June 30th 2014.
Number of Homes sold in the 1st Half of 2013 in Northwest Allen County: 377
Number of Homes sold in the 1st Half of 2014 in Northwest Allen County: 367
Avg Days on Market for Homes sold in the first Half of 2013: 69
Avg Days on Market for Homes sold in the first Half of 2014: 70
Inventory was sluggish coming on to the Spring market as winter's brutal grasp held on longer than normal this year, which in turn resulted in less sales during this period and as you'll see later some upward pressure on pricing. Supporting evidence comes also from the 6% drop in the number of homes sold from the previous 6 months (July-Dec 2013). Average sales time didn't change much year over year but was up from from the 54 days during the July-December 2013 time period.
Average Sales Price of Homes sold in the first Half of 2013 in Northwest Allen County: $187,539
Average Sales Price of Homes sold in the first Half of 2014 in Northwest Allen County: $204,680
Median Sales Price of Homes sold in the first Half of 2013 in Northwest Allen County: $163,500
Median Sales Price of Homes sold in the first Half of 2014 in Northwest Allen County: $175,000
With inventory being down during this period, pricing experienced some upwards movement with average sales price improving 9% and median sales price improving 7% year over year. Pricing was also up from the July-Dec of 2013 period, making this the 6th straight 6 month improvement in median sales price. Since the end of 2011, median sales prices have improved from $157,500 to $175,000 or 11% in Northwest Allen County.
There are currently 236 Homes for sale in Northwest Allen County with an average list price of $274,940. This translates into a little less than 4 months of Inventory currently available. Continued low interest rates should keep activity and pricing at or above current levels going into the second half of 2014.
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 firstname.lastname@example.org 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.