Strong Southern Indiana Housing Market in January and February Outpaces 2011

JEFFERSONVILLE, IND – March 19, 2012 – (RealEstateRama) — So much for the winter doldrums for area realtors. According to the latest housing data compiled by RE/MAX of Indiana, the Southern Indiana real estate market recorded strong growth for the early months of 2012. Nearly 20 percent more homes sold during January and February with 363 homes compared to the same time last year with 303 homes. Likewise, the average price of homes sold in Southern Indiana increased nearly eight percent, from $115,211 to $124,411 during January and February.

Floyd County was reported as having the most significant year-to-date increase in the number of homes sold, with 44.7 percent. Washington County was next highest with a 31.5 percent increase, followed by Clark County, which experienced 22.6 percent more homes sold compared to the same time in 2011.

Floyd County also experienced strong growth in the prices of homes sold. At an average of $148,492, prices for homes sold increased 19 percent in Floyd during January and February 2012 compared to the same time last year.

“The mild weather we experienced in the first two months of the year led to an early surge in home sales during a time when the market is usually less active,” said Bill Burns, broker/owner of RE/MAX First in Jeffersonville. “Coupled with historically low interest rates, many Hoosiers who had been waiting for the economy to turn around decided to jump into the market rather than wait for spring or summer.”

Despite the recent tornadoes that struck the region early in March, Burns expects the next several months to continue the upward trend of homes sales. The tornadoes’ path cruelly destroyed some areas while leaving many others untouched, Burns explained.

“While the people of Southern Indiana have pulled together to help each other get through this horrible time, we’re also moving on together as well. It’s time to pick up the pieces, to rebuild and to carry on our lives as best we can,” said Burns.

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.

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CONTACTS:

Bill Burns, RE/MAX First, Broker/Owner
(p) 812.283.4778 (e) bburns (at) 28first (dot) com

Leslie Payne, RE/MAX of Indiana, Director of Communications
(p) 317.845.2005 x 209 (c) 317.370.3129 (e) lpayne (at) remax-indiana (dot) com

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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

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