Indianapolis, IN – March 28, 2012 – (RealEstateRama) — So much for the winter doldrums for area realtors. According to the latest housing data compiled by RE/MAX of Indiana, the Saint Joseph County real estate market recorded strong growth for the early months of 2012. Nearly 20 percent more homes sold during January and February with 291 homes compared to the same time last year with 244 homes.
Homes in the area have been selling faster as well, which is good news for local residents. The average number of days a house remained on the market fell nearly 23 percent in the first two months of 2012 compared to 2011, from 135 days to 104 days.
Meanwhile, the prices of homes increased modestly, with a four-percent increase in January and February from an average of $87,780 to $91,143.
“The record-low interest rates combined with amazing home prices are great ‘on paper’ reasons for buyers to move forward now. That’s the logical reason why the market has performed so well in Saint Joseph recently,” said Diane Bennett of RE/MAX 100. “But, home purchases are emotional decisions, too, and people are ready to turn the page on the economic downturn and move on. Confidence is returning to the market. And even those whose credit ratings do not allow for traditional mortgage purchases are taking advantage of other options.”
About RE/MAX of Indiana
RE/MAX of Indiana is Hoosiers’ real estate market leader with $2.3 billion in annual sales, over 80 offices and nearly 1,200 sales associates. Founded in 1987, RE/MAX of Indiana helps growing families and businesses through its expertise in residential and commercial real estate, as well as relocation and referral services. Having sold 1.5 million homes in Indiana over the last five years, “nobody sells more real estate than RE/MAX.” Visit www.remax-indiana.com for more information, and follow us on Facebook at www.facebook.com/remaxofindiana and on Twitter at www.twitter.com/remaxofindiana.