Does The Indiana Housing Market Look Good For 2019?
The Indiana housing market looks great for 2019. Home prices last year had already increased by nearly eight percent over 2017. This was Indiana’s strongest rate of appreciation on record. Plus the higher prices didn’t decrease demand. Buying a home was still a good decision because the median price for rent in the state is $1,000.
What Does The Indiana Inventory Of Homes Look Like Now?
Indiana’s housing inventory indicates a need for new residential construction, especially for smaller, entry-level homes. This isn’t isolated to Indiana though. Across the nation, as Millennials settle into homes and Baby Boomers scale down from their larger homes, there’s competition for entry-level homes. This is a nation-wide phenomenon that needs to be addressed. Millennials, in particular, aren’t especially impressed with large spacious homes. They prefer smaller, reasonably priced homes. Experts know that new residential construction is needed to address the desire for smaller homes from two generations. If you own a starter home and are thinking of moving into a larger home, now is the time, because your starter home is in high demand.
What Is The Median Home Value & Median List Price In Indiana Right Now?
The median home value in Indiana right now is $144,500. The median list price for Indiana homes is $189,900. In this past year, the home values in this state have gone up 9.7 percent, in part due to the lower interest rates, higher prices of rent, and competition for starter homes. Zillow currently predicts they will rise five percent in the next 12 months.
When examining price per square foot, we see that the median list price for Hoosier homes is $107. 5.0% within the next year. The median list price per square foot in Indiana is $107.
Are You Thinking of Buying a Home in Dubois County?
Use our site to search homes for sale in Jasper, Dubois, Spencer, Martin and Davis counties and all of our surrounding areas. Unlike the “big name” sites out there, our site is directly connected to our local MLS and is updated faster. By creating a Property Manager account you can stay on top of the newest homes for sale and get price change alerts so you can stay ahead of other buyers and beat them to the best deals!
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