Single-family existing homes sales in Northwest Indiana increased 12 percent in September as compared to one year ago and the median selling price leaped up 8.1 percent, according to the Greater Northwest Indiana Association of Realtors.
In all, 717 homes were sold in the five counties covered by the association, as compared to 640 in September 2011. The median selling price in September was $132,429, as compared to $122,450 in the year-ago month.
Increases in local home sales every month this year have led to the return of multiple offers on single properties and the end of the truly "wild deals" available at the depths of the housing crash, according to local Realtors.
"I definitely feel I have buyers and sellers coming out of the woodwork," said Minakshi Ghuman, a Realtor with Century 21 Pace Realty in Valparaiso. "Some can't even find what they want."
The price ranges people are shopping in have definitely moved up, with many of her clients looking for family homes in the $250,000 to $350,000 range, Ghuman said.
Nationally, single-family home sales were up 10.8 percent in September as compared to one year ago, according to the National Association of Realtors. The median existing single-family home price was $184,300 in September, up 11.4 percent from a year ago.
Single-family home sales declined 1.9 percent to a seasonally adjusted annual rate of 4.21 million in September from 4.29 million in August, according to the National Association of Realtors.
The average interest rate on a 30-year, fixed-rate mortgage last week was 3.37 percent, according to mortgage bundler Freddie Mac's weekly survey. Rates have been under 4 percent every week of the survey so far this month.
In Lake County, single-family home sales were up 23.3 percent in September as compared to one year ago, with a median selling price of $128,250. That price was 5.1 percent higher than last year at this time.
In Porter County, single-family home sales decreased 5 percent from one year ago. The median selling price of $170,000 was 16.5 percent higher than the price in September 2011.
The Greater Northwest Indiana Association of Realtors covers home sales in Lake, Porter, LaPorte, Newton and Jasper counties.
Please Wait…