Existing Home Sales, Home Values, Random Thoughts, Weekly Review

Munster Indiana Real Estate Market Summary February 2011

March 11, 2011 by · 1 Comment 

There has been little relief for Munster Indiana single family residential homeowners (Chart 1) during February. What seemed like a fledgling plateau in January prices,  never materialized into a floor, but kept on falling. With good jobs and qualified buyers so scarce, prices continue to slide. The average home in Munster Indiana lost nearly $6,000 in value since the beginning of the year, according to this chart.

Condo’s did better with a flattening of the 4 month long fall/winter slide (Chart 2). With prices holding fairly firm for the past four months, let’s keep an eye on this plateau to see if this turns into a legitimate market bottom and indication of a more stable condominium and townhouse market.

Obviously 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. Serious sellers will need to stay ahead of the curve by setting their prices low enough to generate offers for their home, or else watch the competitors get all the attention.

Single Family Benchmarks:

  • New Listings, 18
  • Sold Listings,  9
  • Inventory, 121
  • Average Days-On-Market, 209
  • Asking Price Per Square Foot, $125

Condominium & Townhouse Benchmarks:

  • New Listings,  9
  • Sold Listings, 2
  • Inventory, 58
  • Average Days-On-Market, 205
  • Price Per Square Foot, $100

New & Noteworthy

281333_51_BySteveCardwellArchitectural details and innovative design distinguish this unique home in Munster’s  Hill & Vale subdivision. Located with natural water feature of Hart Ditch, this contemporary ranch home is loaded with style, featuring: an enclosed courtyard entrance with fountain, vaulted ceilings, large stone fireplace, lots of built-ins; even a private library inside the master suite. This 4 bedroom, 3.5 bath ranch was built in 1969, has 3,458 sq ft main floor and large finished basement. The asking price is set at $439,900, which breaks down to a reasonable $127/ sq ft.

Searching for a unique home for your next move?  If you are scouting the market for something special, let me help you discover what sparks your imagination. Take advantage of my experience and the information at my disposal.  And likewise,  if you’ve been thinking about selling your Munster Indiana gem please avail yourself of my innovative real estate practice. You can be assured that you 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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Comments

One Response to “Munster Indiana Real Estate Market Summary February 2011”
  1. Although the winter months are historically mild for real estate transactions in Munster Indiana, the signs of Spring always sprouts hope of a real estate rebound.

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