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Average sales price of Northwest Indiana home has risen $33,000 in last five years

ReMax 2018 Market Trends Report found the average home price in Northwest Indiana has risen by 9 percent over the past year.

It’s long been a seller’s market in Northwest Indiana, but it’s actually the hardest it’s been to buy a house in years.

Fewer choices are available on the market. Houses often quickly get snapped up, sometimes just days after being listed. And home prices are climbing. The average sales price has grown to $181,648 this spring, a 9 percent year-over-year jump, according to the ReMax 2018 Market Trends Report.

LaPorte saw its average home price jump 33 percent to $153,731, while the home price in Merrillville rose 10 percent to $140,532, according to ReMax's quarterly report. The average home price in Valparaiso increased by 9 percent to $231,628, the highest in Northwest Indiana.

Gary had the lowest average home price in the Region of $45,998, but it was still up about 9 percent from last year.

Homes in Lake, Porter, Jasper, Newton, Starke and Pulaski are spending 10.82 percent fewer days on the market, with a two to three day average window sellers of a home under $300,000.

The average residential sales price in Northwest Indiana skyrocketed to $181,300 last year, up from $168,922 the previous year and $148,095 in 2013, according to the ReMax 2018 Market Trends Report. Buyers with families are most commonly looking for single-family homes, and most sellers in the Northwest Indiana market are looking to move up into bigger homes.

Though supply has been limited and buyers have been quick to make offers, ReMax advises sellers looking for the best price to have clean, decluttered homes because buyers in Northwest Indiana are generally looking for move-in ready properties.

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Business Reporter

Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.