JEFFERSONVILLE, IND. — According to the latest housing data compiled by RE/MAX of Indiana, the Southern Indiana real estate market recorded strong year-over-year growth for the month of January. The 12-county area experienced a 29.56 percent increase in homes sold in January with 206 homes, compared to the same time last year with 159 homes.
“The Southern Indiana real estate market is on fire,” said Bill Burns, Broker/Owner of RE/MAX First. “As more buyers prepare to move to the next level of home, a price point that was not very robust in the last couple of years has seen an increase in sales. Low inventory in the area is having a positive effect on price appreciation, making for a great time to invest in real estate.”
Harrison County was reported as having the most significant year-over-year increase in the number of homes sold, with 71.43 percent, followed by Scott (62.50 percent), Floyd (28.85 percent) and Clark (27.69 percent) counties.
Housing data from RE/MAX of Indiana also shows the average price of homes sold in Southern Indiana decreased moderately throughout the month of January by 5.10 percent when compared to the same time last year. While average sales price decreased for the area as a whole, analysis of nearby markets indicated some signs of growth. Sellers in Crawford County experienced an increase in prices for homes sold by more than 177 percent, from $21,000 to $58,250. Residents in Clark County also saw an increase in average sales price by 8.09 percent. In addition, buyers in Scott County experienced higher prices for homes sold when compared to the same time in 2012, by 7.83 percent to $65,831.
According to Burns, relatively low home prices may have contributed to the fact that home sales are moving more quickly on the market.
The average number of days on market decreased for the entire Southern region during the month of January compared to the same time last year. Homeowners in Washington experienced a 20 percent decrease from 145 to 116 days on average for homes to sell. Crawford County also saw a 15.74 percent decrease, followed by Harrison (12.14 percent) and Scott (3.88 percent) counties. The area as a whole experienced a 3.65 percent decrease with 120 days on market.
Source: RE/MAX of Indiana
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