06/22/2023
I always have people asking me how the market is in our local area. The best measure is obviously in the numbers! Check out the last few years of statistics for site-built homes in Elkhart County.
2021 and 2022 the average and median SALE prices were ABOVE the average and median list prices with many homeowners receiving multiple competing offers.
This year, so far, the average and median list prices are above previous years with sales prices being at or slightly below list price. Low supply continues to be a factor. It's still a competitive market!
If you're thinking about selling and you bought your home more than three years ago, you most likely have significant equity. Since 2019 the average sales price has risen $65,134 while the median sales price has risen $62,100.
2019- Average: List price $183,499, Sale Price $179,169
Median: List price $164,250, Sale price $162,900
Units sold: 2114
Days On Market (DOM): Average 37, Median 14,
2020- Average: List price $204,957, Sale price $201,983
Median: List price $179,900, Sale price $180,000
Units sold: 2218
DOM: Average 32, Median 8
2021- Average: List price: $233,456, Sale price $233,964
Median: List price: $199,900, Sale price $205,000
Units sold: 2189
DOM: Average 18, Median 5
2022- Average: List price: $244,451, Sale price $245,145
Median: List price: $219,000, Sale price $220,100
Units sold: 1999
DOM: Average 16, Median 6
2023 YTD- Average: List price: $248,266, Sale price $244,303
Median: List price: $225,000, Sale price $225,000
Units 720
DOM: Average 30, Median 10
I am a Real Estate Broker in Northern Indiana. I have been selling real estate full time since 2007