Southeast Indiana Housing Market Shows First-Quarter Growth

JEFFERSONVILLE, IN – April 27, 2012 – (RealEstateRama) — According to the latest housing data compiled by RE/MAX of Indiana, Southeast Indiana’s real estate market recorded relatively strong growth for the early months of 2012. Sixteen percent more homes sold during the first quarter of 2012 with 573 homes compared to the same time last year with 493 homes.

Housing Market in National News
Housing Market in Social Media

Broken out by county, Floyd had the most significant year-to-date increase in the number of homes sold, with 36 percent, followed by Scott County with 24 percent. The number of homes sold increased in Clark County as well, with nearly 15 percent more homes sold from January through March 2012 compared to the same time last year.

Real estate experts are happy to report this good news during a time of year that is usually slow.

“During the first three months of the year, the Southeast Indiana market saw greater interest in home buying due to several key factors,” said Bill Burns, broker/owner of RE/MAX First in Jeffersonville. “The mild winter weather certainly helped, but positive reports on job growth have also been critical. With companies like GE and Ford hiring workers, and Amazon building a new facility bringing 1,000 jobs to the region, such news is helping fuel our local economy. And that news is helping fuel home sales.”

The average price of homes sold overall in Southeast Indiana increased modestly, rising four percent to $122,503. Homeowners in both Clark and Floyd counties saw the prices of homes sold increase by five percent, while Scott County homes sold at 10 percent over prices of homes sold in 2011. Meanwhile, Harrison County homeowners saw their prices of homes sold decrease by nearly 11 percent to $120,599.

With prices expected to continue rising throughout 2012, Burns has a reminder for local residents.

“Buy a home now or you may be sitting on the sidelines wishing you had purchased earlier in the year, because prices and demand are on the rise,” he said. “With historically low interest rates and prices still tipped in favor of buyers, now is certainly the time to start your home search.”

To read the complete Hoosier Housing Report for Southeast Indiana, go to http://content.remax-indiana.com/media/downloads/remaxin/20120424113126.pdf

About RE/MAX of Indiana
RE/MAX of Indiana is Hoosiers’ real estate market leader with $2.7 billion in annual sales, over 75 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.

SHARE

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.

Contact:

Phone: 317.845.2005

Previous articleCentral Indiana Real Estate Market Shows First-Quarter Growth
Next articleNorthwest Indiana Housing Market Shows First-Quarter Growth