LaGrange County and Noble Counties Combined

Local Housing Market Statistics

These figures are taken from our local MLS and include those sold by all agent and firms who are members. Our office is located in LaGrange County, two blocks from the county line which separates us from Noble County. The town of Wolcottville is in both counties. We work with clients and customers in both counties and combine the data to get a better ideal of what is happening in our local market. The number of sales and listings is relatively small for each county and having more data helps us track trends more accurately because a single sale won't skew the averages quite so much.

We are also located in a lake community, so we pull out the lake property numbers to track statistics and trends for that too. They are listed below the monthly data for all properties.

Most areas of the country have seen drops in the number of homes sold and average sales prices. In some of these areas this was preceded by years of explosive and unprecedented growth that priced most buyers right out of the dream of home ownership. The real estate market is an endless cycle of price changes.To make an informed decision about buying or selling a home in our market, you need current local information.

When you are making a decision to buy or sell, home appreciation isn't the only thing to consider. You should also consider that mortgage interest rates are historically very low right now. In addition to what you can save in interest cost, you can get more house for the same payment amount. If you are currently a renter, that is a payment every month that will never offer a return on your investment.

Home ownership is not just about investing for potential future profit. It is about investing in the security, stability, and comfort that a home provides for your family. It is about that feeling of pride and sense of accomplishment you feel when you become a homeowner.

I offer these statistics to give you a general idea of what is going on locally so you can make informed decisions about the sale or purchase of a home. For market analysis of a specific home you would like to buy or sell, contact me and I would be happy to run the numbers for you.

LaGrange and Noble Counties Combined

Market and Sales Data Year to Date- End of July 2010

All Residential                          2009                2010                Change

Average Sales Price YTD       95,131            100,681              +5.8%

Homes Sold YTD                          216                272                 +25.9%

Average Days on Market             162               180                  +11.1%

There are 701 homes listed for sale and at the average sold per month so far, it will take 21.2 months to sell them all (months of supply). That is almost 2 years! Homes sold for 91.9% of the price they were listed at prior to sale.

Year to Date-End of July 2010 Lake Properties

Lake Properties                          2009                2010                Change

Average Sales Price YTD        162,776           154,975              -4.8%

Homes Sold YTD                          51                      58                   +13.7%

Average Days on Market           160                    203                   +26.9%

There are 270 homes listed for sale and at the average sold per month so far, it will take 24.5 months to sell them all (months of supply). That is 2 years! Homes sold for 91.4% of the price they were listed at prior to sale.

Market and Sales Data Year to Date- End of June 2010

All Residential 2009 2010 Change

Average Sales Price YTD 91,229 97,759 +7.2%

Homes Sold YTD 175 239 +36.6%

Average Days on Market 168 184 +9.5%

There are 689 homes listed for sale and at the average sold per month so far, it will take 13.5 months to sell them all (months of supply). Homes sold for 91.9% of the price they were listed at prior to sale.

Year to Date-End of June 2010 Lake Properties

Lake Properties 2009 2010 Change

Average Sales Price YTD 154,626 151,289 -2.2%

Homes Sold YTD 38 47 +23.7%

Average Days on Market 156 217 +39.1%

There are 262 homes listed for sale and at the average sold per month so far, it will take 23.8 months to sell them all (months of supply). Homes sold for 91.2% of the price they were listed at prior to sale.

Market and Sales Data Year to Date- End of May 2010

All Residential 2009 2010 Change

Average Sales Price YTD 85,888 97,938 +14.0%

Homes Sold YTD 139 188 +35.3%

Average Days on Market 169 181 +7.1%

There are 692 homes listed for sale and at the average sold per month so far, it will take 11.3 months to sell them all (months of supply). Homes sold for 91.4% of the price they were listed at prior to sale.

Year to Date-End of May 2010 Lake Properties

Lake Properties 2009 2010 Change

Average Sales Price YTD 158,529 152,664 -3.7%

Homes Sold YTD 28 36 +28.6%

Average Days on Market 156 204 +30.8%

There are 256 homes listed for sale and at the average sold per month so far, it will take 31.7 months to sell them all (months of supply). Homes sold for 91.2% of the price they were listed at prior to sale.

Year to Date- End of April 2010

All Residential 2009 2010 Change

Average Sales Price YTD 73,872 94,476 +27.9%

Homes Sold YTD 101 127 +25.7%

Average Days on Market 191 187 -2.1%

There are 652 homes listed for sale and at the average sold per month so far, it will take 15.5 months to sell them all (months of supply). Homes sold for 91.3% of the price they were listed at prior to sale.

Year to Date-End of April 2010 Lake Properties

Lake Properties 2009 2010 Change

Average Sales Price YTD 134,192 142,736 +6.4%

Homes Sold YTD 14 23 +64.3%

Average Days on Market 222 250 +8.3%

There are 247 homes listed for sale and at the average sold per month so far, it will take 35.3 months to sell them all (months of supply). That is close to 3 years! Homes sold for 92.5% of the price they were listed at prior to sale.

Year to Date- End of March 2010

All Residential 2009 2010 Change

Average Sales Price YTD 83,346 104,168 +25.0%

Homes Sold YTD 61 85 +39.3%

Average Days on Market 204 209 +2.5%

There are 638 homes listed for sale and at the average sold per month so far, it will take 17.7 months to sell them all (months of supply). Homes sold for 89.5% of the price they were listed at prior to sale, which is down 2.7% from last year.

Year to Date-End of March 2010 Lake Properties

Lake Properties 2009 2010 Change

Average Sales Price YTD 153,833 138,064 -10.3%

Homes Sold YTD 6 16 +166.7%

Average Days on Market 290 314 +8.3%

There are 222 homes listed for sale and at the average sold per month so far, it will take 27.7 months to sell them all (months of supply). Homes sold for 90.5% of the price they were listed at prior to sale. The days on the market remains higher than last year. The number of sales are up, but sales prices are down.

Year to Date- End of February 2010

All Residential 2009 2010 Change

Average Sales Price YTD 72,526 87,840 +21.1%

Homes Sold YTD 39 49 +25.6%

Average Days on Market 204 184 -9.8%

There are 601 homes listed for sale and at the average sold per month so far, it will take 12.3 months to sell them all (months of supply). Homes sold for 91.6% of the price they were listed at prior to sale.

Year to Date-End of February 2010 Lake Properties

Lake Properties 2009 2010 Change

Average Sales Price YTD 139,500 153,031 +9.7%

Homes Sold YTD 4 8 +100%

Average Days on Market 146 283 +93.8%

There are 195 homes listed for sale and at the average sold per month so far, it will take 24.4 months to sell them all (months of supply). Homes sold for 91.2% of the price they were listed at prior to sale. The days on the market remains significantly higher than last year.

Year to Date-End of January 2010 All Residential Properties

All Residential 2009 2010 Change

Average Sales Price YTD 84,173 95,859 +13.9%

Homes Sold YTD 19 22 +15.8%

Average Days on Market 169 188 +11.2%

There are 587 homes listed for sale and at the average sold per month so far, it will take 26.7 months to sell them all (months of supply). Homes sold for 91.7% of the price they were listed at prior to sale.

Year to Date-End of January 2010 Lake Properties

Lake Properties 2009 2010 Change

Average Sales Price YTD 139,500 169,500 +21.5%

Homes Sold YTD 4 4 0

Average Days on Market 146 269 +84.2%

There are 176 homes listed for sale and at the average sold per month so far, it will take 44 months to sell them all (months of supply). Homes sold for 91.6% of the price they were listed at prior to sale. There were only 4 lake properties that sold in both counties. And there was a significant lengthening of the days on the market from the prior year.

How 2008 Compares to 2009- Year End Averages

Here are the annual statistics for the two counties combined through the end of 2009 and how they compared to 2008 for the same time period. This includes all single family homes that were listed in our Northeastern Indiana MLS.

2008 2009 % Change

All Homes Sold Avg Price $102,568 $97,063 -5.4%

Number of Homes Sold 420 402 -4.3%

Lake Homes Sold Avg Price $147,638 $158,484 +7.3%

Number of Lake Homes Sold 86 92 +7.0%

558 Residential Properties listed for sale and 167 Lake Properties.

18 Months of Supply Residential Properties 33.4 Months of Supply Lake Properties

The historical data shows how prices have changed over the years in LaGrange county.

*These figures are based on data supplied by the Northeastern Indiana Association of REALTORS® Multiple Listing Service for the period starting 01/01/1999 to present. This data may not reflect all real estate activity in the Market (such as sales by owners, auctions, and transfers not involving a real estate agent) and is compiled from information that is input by many members and staff and may contain errors that affect results so the accuracy of these figures can not be guaranteed. Days on the market is not cumulative if the property was taken on and off the market or was listed by multiple firms.