Real Estate News, Statistics, Week in Review

Munster Indiana Real Estate Market Summary January 2011

February 18, 2011 by · Leave a Comment 

Recent movement in the Munster Indiana real estate market shows that the prices of single family homes slightly recovering from their lowest bottom during January.  Home prices made an impressive peak last summer but fell back and stayed flat at the end of 2010. While some people may be alarmed by this slide, similar market shifting has been happening across Northwest Indiana. Munster still outranks next door Highland Indiana by almost 14% on a price square foot basis.

The typical Munster Indiana condo lost around  $9,000 during the past year but prices have stabilized during the last 2 months with the median condominium asking price curently being just under $124,000. The numbers for early February are showing a slight  up tic, so perhaps we have moved beyond the bottom.

What does all this mean? If you are a BUYER looking for a home in Munster Indiana, this is an unprecedented opportunity to buy property at the lowest prices in several years. Interest rates have already started to climb, so many experts are predicting that this is as good as it will get.  If you are a SELLER you need to get very real about your pricing. Keep in mind those important price-per-square-foot numbers that we use to compare different size homes, and the overall quality of their collected construction, design, and amenities.

Single Family Benchmarks:

  • New Listings, 16
  • Sold Listings, 17
  • Inventory, 118
  • Average Days-On-Market, 206
  • Price Per Square Foot, $126

Condominium & Townhouse Benchmarks:

  • New Listings, 15
  • Sold Listings, 13
  • Inventory, 58
  • Average Days-On-Market, 212
  • Price Per Square Foot, $100

New & Noteworthy

8939 Price Circle by Steve CardwellThis week’s “blue-light-special” features this bank owned Highland Indiana tri-level townhome on Price Circle. It  had originally been listed on the market last March for $140,000. The MLS is now showing it as a PENDING listing with a price of $89,900. Congratulations to the savvy bargain-hunter who got this diamond-in-the-rough for only less than $64 per square foot.

Trust your local market expert. If you have you are scouting the market for a bargain of your own, or simply need more information about a particular home,  it is my mission to share the information at my disposal to help you.  And likewise,  if you know anyone who is seeking a property to buy, or thinking about selling a property in any of Munster Indiana’s neighborhoods or developments, please let them know about my innovative real estate practice. You can be assured that they will receive the utmost care, foremost marketing skills, and diligent service.

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Steve Cardwell

Steve Cardwell is an Indiana Realtor working with residential buyers and sellers throughout Northwest Indiana. He likes to stay current on the housing market by analyzing real estate trends with a focus on the towns of Highland and Munster Indiana. His broker affiliation is Red Key Realty Leaders in St John, Indiana. Learn more about Steve and visit www.SteveCardwell.com.

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