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First quarter home sales in Elkhart County dip 8.6 percent

Home sales in Elkhart County are down in the first three months of the year compared to last year.

Posted on April 24, 2013 at 1:00 a.m. | Updated on April 24, 2013 at 3:10 p.m.

First quarter home sales in Elkhart County are down compared to the same time frame last year while the median sales price is up, according to new stats from the Indiana Association of Realtors.

Here are some highlights from the numbers, released Monday, April 22:

Ÿ Home sales in the first three months of 2013 totaled 328 in Elkhart County compared with 359 in the period last year, a dip of 8.6 percent. Sales just in March reached 135, down 14.6 percent from 158 in March last year.

Ÿ On the bright side, for sellers, the median sales price in the first quarter reached $95,450, up 8.8 percent from $87,750 last year. For March alone, the median price totaled $94,000, up 4.4 percent from $90,000 in March 2012.

Ÿ The housing supply is thinning. March of this year there was a 6.8-month supply of homes on the Elkhart County market, compared with 8.3 months worth in March 2012. Similarly, new listings in the first quarter totaled 622, down 6 percent from 662 in the same period last year.

Ÿ Statewide, first quarter sales reached 14,700, up 17.9 percent from 12,470 in the same period last year. The median sales price totaled $110,000, up from $105,599.

In a press release, Kevin Kirkpatrick, president of the Indiana Association of Realtors, lauded the statewide figures.

“Low inventory has pushed home prices higher and put more homeowners in a better equity position,” he said. “Now is a great time for those would-be sellers to enter the marketplace. Consumer confidence is up, interest rates are low and our members expect a busy summer season.”

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