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Thursday, April 17, 2014

Elkhart County homes sales jump 25.2 percent in April

Home sales in April in Elkhart County increased compared to the prior year and year-to-date sales through April are also up.
Truth Staff
Posted on May. 21, 2013 at 1:00 a.m. | Updated on May. 21, 2013 at 12:18 p.m.

Home sales in Elkhart County increased in April and year-to-date sales are also up.

The Indiana Association of Realtors released the latest stats on home sales and here are some highlights:

Ÿ In April, there were 189 home sales in Elkhart County, up 25.2 percent from 151 in April 2012. In the first four months of the year there were 517 sales, up 1.4 percent from 510 in the same period last year.

Ÿ The median sales price in April was $109,950, up 19.5 percent from $92,000 in April 2012. In the first four months of the year, the median price was $100,450, up 11.6 percent from $90,000 a year earlier.

Ÿ As of April, there were 986 homes on the market in Elkhart County, a supply of 6.7 months. That’s down from 1,159 homes on the market in April 2012, which represented an 8.5-month supply.

Here’s a look at statewide stats:

Ÿ There were 6,569 home sales across Indiana in April, up 18 percent from 5,568 a year earlier. In the first four months of the year, there were 21,269 sales, up 17.9 percent from 18,038 in the same period last year.

Ÿ The median price reached $119,000 in April, up from $116,000. For the first four months of the year, the median price totaled $113,000, up from $110,000.

Ÿ There were 41,387 homes on the market in April, a supply of 7.1 months. That’s down 11.1 percent from 46,571 homes a year earlier, a 9.3-month supply.

Kevin Kirkpatrick, president of the Indiana Association of Realtors, alluded to the reduced home inventory.

“Low interest rates have lured consumers to the marketplace and confidence has kept them there. But, low inventory has created a competitive environment over limited choices,” Kirkpatrick said in a press release. “While this has put more homeowners in a better equity position, it also threatened sales volume down the road. Luckily, April brought an increase in new listings.”

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