The Indiana Association of Realtors® released a bulletin today that they say shows “Low inventory continues to impact home sales, but fetches top dollar for available properties”. The article compares sales data from March of 2014 to sales data from March of 2013 that show, among other things, that while the number of closed home sales decreased 11.2 percent to 5,243, the median sale price of those homes increased 4.3 percent to $119,900. Also, the average sale price increased 5.2 percent to $142,259. The article quotes Kevin Eastridge, 2014 President of the Indiana Association of REALTORS® and Owner/Principal Broker of the Evansville-based F.C. Tucker Emge REALTORS® as saying “Buyers want homes, which is clearly supported by their willingness to pay top dollar, but low inventory continues to hold home sales back.” Another interesting tidbit is that the percent of original list price received increased by 1.1 percent to 91.6 percent.
What do I take away from this? Well, If you’ve been thinking about listing your Indiana home, now may be the time you’ve been waiting for. There are buyers out there just waiting and searching for the right home and your home may be the one! We have seen some multiple offer situations recently because of the low inventory. When a nice home is listed and priced according to the market, there very well may be more than one party that makes an offer. The trick is to make sure you list the home correctly from the beginning. If you are in a niche market, it makes good sense to contact the expert in the area. They have an ever-present handle on the market and know many of the buyers that are out there waiting for the right home. It can be difficult for inexperienced agents to understand the intricacies of the Indiana waterfront home market at Heritage Lake. Don’t take a chance of listing your home based on the wrong sales information. Call Brouhard Realtors at RE/MAX Centerstone to get an update on the local market. Darrel and I have spent over 26 years working together in real estate sales at Heritage Lake-that’s over 52 years of combined experience. Let us share our expertise with you!