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Area Housing Market Is Still In Demand At St. Joseph County

Looks like the Walkerton area is still a place that sustains a housing shortage. The housing market statistics below highlight current trends we are seeing from data produced by the Indiana MLS. During the first 6 months of the year St. Joseph County was still seeing strong growth in the regional real estate market.

In fact north-central Indiana is still in demand as a place to locate! There is not enough supply. Should Walkerton become a destination for new housing in the region? If so, has the leadership of the community recognized the potential for building new housing units? We all know that when more housing is built it will create a trickle-down effect with available, affordable, older housing stock.

It is still a sellers market in the Walkerton area! The demand outweighs supply. This newer 4 bedroom home on Redwood Rd. is going for $495,000.

January 2019 to June 2019 St. Joseph County Housing Market

  • Homes Sold – 1,733

  • Average Sale Price – $164,221

  • Median Sale Price – $139,900

The next step is to determine how this data compares over time to see how the housing market has improved since the same period in 2018.

January 2018 to June 2018 St. Joseph County Housing Market

  • Homes Sold – 1,709

  • Average Sale Price – $151,561

  • Median Sale Price – $125,000

Year over Year St. Joseph County Housing Market Change

  • Homes Sold – 1.4% Increase

  • Average Sale Price – 8.3% Increase

  • Median Sale Price – 11.2% Increase

Monthly Breakdown of St. Joseph County IN

Real Estate Market Statistics

Homes Sold:

  • January – 200

  • February – 193

  • March – 251

  • April – 306

  • May – 403

  • June – 380

Average Sale Price:

  • January – $142,000

  • February – $144,800

  • March – $160,500

  • April – $163,500

  • May – $172,100

  • June – $180,350

Median Sale Price:

  • January – $117,500

  • February – $122,000

  • March – $127,000

  • April – $140,000

  • May – $144,000

  • June – $152,700

Looking over the monthly breakdown of housing market statistics in St. Joseph County, Indiana home sales heated up during the summer as well as price.

The average sale price in June ($180,000) is now $38,000 more than what we saw in January ($142,000), which is a 36% increase. The median price has risen $35,000 since January marking a 30% increase between January to June.

Many empty lots in the Walkerton community are ripe for new developments. There is a demand for apartment rentals near the downtown area. Is it up to town leaders to locate developers for new apartment units?

Overall, the first 2 quarters of the year have started off strong with increasing prices compared to a year ago in 2018. The 2019 real estate market is seeing homes sell on average $13,000 higher than they did in 2018.

It is still a seller’s market and with interest rates declining back to 16 month lows, financing is becoming cheap for buyers again which should help continue to fuel this seller’s market of rising home prices.

* Indiana MLS

 

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