Lots Of People Want To Buy A Home In SEI, But Inventory Is Limited

Tuesday, July 31, 2018 at 8:41 AM

By Mike Perleberg @mikedup84

Area home sales are up by 2.2 percent, but the median sale price has increased more than seven percent this year.

(Lawrenceburg, Ind.) - Southeastern Indiana homes sold quickly, and usually for more money, in the first half of 2018.

The Indiana Association of Realtors says the region has seen 547 homes sold in Dearborn, Franklin, Ohio, Ripley and Switzerland counties January through June. The 2.2 percent increase is about 12 more single-family homes, condominiums, and townhomes than changed owners during 2017’s first six months.

Dearborn County was the site of 297 of the home sales. The median home sale price in Dearborn County is up 7.1 percent so far this year.

2018 IAR President John De Souza says strong demand is being met by limited home inventory, driving prices upward.

“The limited inventory of homes for sale continues to challenge the strong demand shown by Hoosier buyers this year, resulting in median prices hitting record levels,” said De Souza. “In this low-inventory market, guidance from a REALTOR® on how to juggle offers, negotiate, and close the deal is invaluable.”

Southeastern Indiana Home Sales - First Half 2018 vs 2017
County	Homes Sold 2017	Homers Sold 2018	% Change	Median Sale Price 2017	Median Sale Price 2018	% Change
Dearborn	288	297	+3.1%	$154,000	$164,900	+7.1 %
Franklin	75	85	+13.3%	$125,500	$160,000	+27.5
Ohio	22	25	+13.6%	$121,500	$113,500	-6.6%
Ripley	113	116	+2.7%	$124,900	$142,000	+13.7%
Switzerland	37	24	-35.1%	$110,000	$90,750	-17.5%
Data source: Indiana Association of Realtors