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Thursday, April 24, 2014

Elkhart County home sales jump nearly 40 percent

Elkhart County's September housing sales figures are up.
Truth Staff
Posted on Oct. 22, 2013 at 1:00 a.m. | Updated on Oct. 22, 2013 at 1:58 p.m.

Home sales in Elkhart County jumped nearly 40 percent in September and median home sales prices edged up.

Here are the latest figures, released Monday, Oct. 21, by the Indiana Association of Realtors:

Ÿ Home sales in Elkhart County totaled 178 in September, up 39.1 percent from 128 in September 2012. January-through-September sales reached 1,415, up 5.3 percent from 1,344 in the same nine-month period last year.

Ÿ The median home sales price in September reached $105,450, up 2.6 percent from $102,751 a year earlier. The year-to-date median price here reached $108,500, up 10.7 percent from $98,000 last year.

Ÿ New Elkhart County home listings in September totaled 226, up 14.1 percent from 198 a year earlier. The total inventory of homes for sale held relatively steady, 1,132 in September compared to 1,130 a year earlier.

Ÿ Statewide, home sales totaled 6,342 in September, up 14.3 percent from 5,550 a year earlier. Year-to-date sales through September reached 58,558, up 17.4 percent from 49,883 a year earlier.

Ÿ The median price statewide reached $123,500 in September, up 2.9 percent from $120,000. The year-to-date median figure reached $122,900, up 4.2 percent from $118,000.

“Statewide, we are well past the recovery stage and appear to be moving toward a stable, balanced marketplace,” Kevin Kirkpatrick, the president of the Indiana Association of Realtors, said in a press release. “Whether we fully achieve that status depends on real employment and wage growth, as well as consumer confidence.”


Meanwhile, the foreclosure rate — the ratio of home loans in foreclosure relative to the total number of home loans — dipped to 2.4 percent in Elkhart County in August, down from 2.48 percent in July, according to numbers released Monday by CoreLogic.

The 90-plus day delinquency rate fell to 5.19 percent in August, down from 5.28 percent in July. That figure reflects the percentage of home loans that are 90 or more days delinquent, including foreclosed homes.

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