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The Northwest Indiana real estate market is seeing a lot of new trends start to take hold. These trends are especially good for those that are thinking about selling. People always ask us when the best time to sell a home is, and our answer is right now!
In Porter County, the absorption rate is very low. There have been 191 homes sold in the past 30 days, while there are only 721 homes on the market, giving us an absorption rate of 3.77 months. This is a historically low interest rate for Porter County.
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We are no longer in the buyer’s market we are used to seeing.
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A common rule of thumb in real estate is that any absorption rate over 20% is considered a seller’s market. In Porter County, that figure sits at 26.5%. We are no longer in the buyer’s market we are used to seeing in Northwest Indiana. If you have a good home and it’s in decent shape, it’s going to sell quickly for top dollar.
As for buyers sitting on the fence, interest rates are still low and home values are going through the roof. It’s a good time to make a move now, while rates are low, and enjoy that home appreciation in the near future.
If you have any questions for us or any suggestions for future video topics, let us know! We would love to hear from you.
