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

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

 

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