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SEI Home Sales On The Rise Through First Half Of ’17

Posted On July 25, 2017

By Mike Perleberg

(Lawrenceburg, Ind.) – Southeastern Indiana home sales are a little ahead of last year.

During the first half of 2017, a total of 535 homes were sold in Dearborn, Franklin, Ohio, Ripley and Switzerland counties, according to the Indiana Association of Realtors’ report tracking the closings of sales of detached single family homes, condos and townhomes. The figure represents an increase of 3.5 percent from the first half of 2016.

Dearborn County had the most sales at 288, up 4.0 percent. The median selling price in Dearborn County is up 2.7 percent to $154,000 so far this year.

However, Switzerland County has seen the biggest jump in home buying and selling activity. Thirty-seven homes were sold there from January through June, up 37 percent from 2016’s first half. The median selling price in Switzerland County has also improved by 2.4 percent to $110,000.

The Indiana Business Research Center at Indiana University’s Kelley School of Business surveys Hoosier realtors about their sentiments each quarter. Forty percent of Indiana realtors said low seller inventory was a major factor influencing their housing market, marking the first time since the survey began that interest rates and the economy weren’t the two most commonly identified market drivers.

Also, Indiana realtors do not expect the dynamics of the extreme seller’s market to change any time soon, as about two-thirds stated that the market will improve for sellers over the next three to six months.

SOUTHEASTERN INDIANA HOME SALES

First Half 2016 VS 2017 (January through June)

COUNTY

CLOSED SALES 2016

CLOSED SALES 2017

% CHANGE

MEDIAN PRICE 2016

MEDIAN PRICE 2017

% CHANGE

Dearborn 277 288 +4.0 $150,000 $154,000 +2.7
Franklin 79 75 -5.1 $141,500 $125,500 -11.3
Ohio 23 22 -4.3 $123,900 $121,500 -1.9
Ripley 111 113 +1.8 $114,000 $124,900 +9.6
Switzerland 27 37 +37.0 $107,450 $110,000 +2.4
Indiana 41,511 42,957 +3.5 $137,500 $145,000 +5.5

  Data source: Indiana Association of Realtors

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