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LaGrange Local Housing Market
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 a home in our market, you need current local information. The historical data at the bottom of the page will show how prices have changed over the years in our county. In our area we have seen a decline in the number of home sales since 2005. The average price that homes sold for has also declined since 2005.
We have seen a number of foreclosed or bank owned homes which sell below market price and reduce the average sold price. In May of 2008, home sales started being designated in our MLS as foreclosed when it was applicable, and 34 of the sold homes from May to December were foreclosures. Over half of the sales in the area during the first quarter of 2009 were foreclosures.
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 while sellers in today's market can't sell for the prices they could have gotten at the peak of this cycle, they can make up for this when the home they are purchasing is bought for less than it would have been if they had purchased during the peak.
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.
All LaGrange County Homes
| Year |
Total Homes Sold |
Avg Sold Price |
Avg DOM |
| 2008 |
145 |
113,271 |
161 |
| 2007 |
181 |
131,902 |
155 |
| 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 |
| 2008 |
26 |
213,578 |
183 |
| 2007 |
45 |
203,317 |
175 |
| 2006 |
47 |
184,712 |
109 |
| 2005 |
69 |
201,433 |
144 |
| 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.
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.
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