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Munster Indiana Real Estate Market Summary May 20 2011

May 20, 2011 by · 2 Comments 

Munster Prices Break Out From Trough

Prices for Munster Indiana real estate listings have bumped up recently. A month ago, the median listing price was $230, 950,  now this week that average has jumped $17,000 to $247,900. The big question is, why all this optimism? With national statistics for housing starts the bad news of the week, sellers in Munster with, generally speaking larger and more better appointed properties, may have good reason to be feeling confident.

Looking at the numbers from a Price-Per-Square-Foot basis, Munster Indiana has been  in a good spot, with single family homes  in the range of $124 to $126 recently; the condo and duplex market asking $100/SF. When looking at week-to-week trends we don’t want to get too excited over a small bump, however, this is an indicator suggesting that perhaps the worst is over. We will be watching these prices closely.

Munster_Home_By_Steve_CardwellOther plausible reasons for a bump may have to do with which homes are coming into the marketplace.  Let’s say, for instance, that several larger family homes owned by empty-nesters were being put up for sale at once, turning over as the last child goes off to college. If that demographic occurred within a short time, it might account for a statistical abberation, but we won’t discount the good news too much. Let’s just see if this turns into a long anticipated change of direction.

Help This Family Downsize

Here in this photo is a typical Munster family that needs to downsize their living expenses. They want to leave this large 2,700 square foot 4 bedroom home to a younger family that needs more space while they move to Porter County. The home is being marketed privately, and they are asking $369,900. Let me know if you know someone who might be able to make this a win-win for them. I have all the details and can make the introductions. Munster currently has 140 homes for sale and 61 condos and duplexes. So there is plenty of variety to choose from for almost any buyer. Let me know how I might help.

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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

2 Responses to “Munster Indiana Real Estate Market Summary May 20 2011”
  1. Carrie Bronner says:

    Prices in neighboring cities like Valparaiso ($225,268 median price) and Chesterton, IN (209,527 median price) are also on the rise. With the combination of such a  high inventory of homes on the market and incredibly low interest rates for mortgages it is still definitely a buyers market. Now is the time to buy! Don’t wait mortgage rates are expected to rise throughout the year!

  2.  I completely agree. I think anyone with good employment would want to consider these market conditions as an opportunity to trade up to a better home or a town with better amenities, like all that Munster has to offer.

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