IAR: Steuben July Closed Sales Up, Median Prices Down
Thursday Aug 28, 2014 8:18am
By: Jim Measel
(UNDATED) - The Indiana Association of Realtors says closed sales in Steuben County were higher in July but median prices dropped when compared to year ago figures. According to its monthly report, new listings in Steuben County dropped from 89 last year to 75 in July but closed sales went up by 31 percent as they went from 36 in July of 2013 to 47 last month.
The median sales price for homes in Steuben County went down by 17 percent to $139,700.
The median sales price went up in neighboring counties. DeKalb County's median sales price increased by over 38 percent to over $113,000 compared to year ago figures. New listings and closed sales also increased.
Noble County's median sales price went up by over 12 percent to $132,000. New listings and closed sales were off slightly.
The median sales price in LaGrange County also went up to over $128,000 which was a increase of just under eight percent. But new listings were off by 46 percent while closed sales were down 33 percent.
While there were 60 less homes sold statewide in July than during the same month of last year, the median price went up by 1.5 percent to $132,000.
I.A.R. President Kevin Eastridge says housing activity statewide is actually on par with 2007 and that local markets have stabilized.