LaGrange Local Housing Market

Some areas of the country have seen substantial drops in the number of homes sold and average sales price.  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.  To make an informed decision about buying a home in our market, you need local information.  The data below* includes all types of single family homes in the LaGrange County area.

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.    

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

 Monthly Activity Reports

March 2008

(Numbers in parentheses are average list prices). As of March 31st, 2008, there are 252 homes currently for sale (175,040). They have been on the market for an average of 190 days. 63 are lakefront (300,745). 26 homes are located channelfront (164,050), 76 are on ski lakes (281,146) or lakes with access to ski lakes (172,457). 34 are on non-ski lakes (157,426) 21 have association or deeded access (94,559). 142 homes have no lake access (133,184).

In March 2008, there were 4 homes sold with an average sold price of 120,975. They spent an average of 307 days on the market, and were originally listed at an average price of 128,300. There were 48 new homes listed for sale this month at an average list price of 131,991.

February 2008

(Numbers in parentheses are average list prices).  As of February 29th, 2008, there are 226 homes currently for sale (182,122).  They have been on the market for an average of 202 days.  61 are lakefront (302,727).  18 homes are located channelfront (155,044),   71 are on ski lakes (286,559) or lakes with access to ski lakes (189,569). 24 are on non-ski lakes (174,508) 15 have association or deeded access (125,593). 132 homes have no lake access (136,503).

In February 2008, there were 6 homes sold with an average sold price of 77,733.  They spent an average of 81 days on the market, and were originally listed at an average price of 89,758.  There were 24 new homes listed for sale this month at an average list price of 184,712. 

January 2008 

(Numbers in parentheses are average list prices).  As of January 31, 2008, there are 229 homes currently for sale (177,245).  They have been on the market an average of 192 days.  63 are lakefront (290,042).  23 are channelfront (152,860),  74 are on ski lakes (273,695) or lakes with access to ski lakes (189,569). 31 are on non-ski lakes (161,935) 16 have association or deeded access (130,962). 131 homes have no lake access (133,402).

In January 2008, there were 15 homes sold with an average sold price of 131,000.  They spent an average of 172 days on the market, and were originally listed at an average price of 140,886.  There were 19 new homes listed for sale this month at an average list price of 168,950. 

Historical Data

All LaGrange County Homes

Year	Total Homes Sold	Avg Sold Price	Avg DOM
2007	181	131,902	154
2006	237	127,817	126
2005	269	136,423	146
2004	234	116,657	152
2003	232	114,412	157
2002	200	108,171	138
2001	183	105,092	163
2000	211	111,557	n/a
1999	207	98,878	n/a

Lakefront LaGrange County Homes

Year	Total Homes Sold	Avg Sold Price	Avg DOM
2007	45	203,317	175
2006	47	184,712	108
2005	69	201,433	143
2004	45	165,125	122

*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 and is compiled from information that is input by many members and may contain errors that affect results  so the accuracy of these figures can not be guaranteed. 

Please note: when compiling averages with the small number of homes in a monthly period a single home that was on the market for a very long or short period of time can change average days on market quite a bit.  This effect is especially true for average sales price when a single home sold very low or extremely high that month.

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.