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Saint Joseph Housing Market in January and February Outpaces 2011
Nearly 20 Percent More Homes Sold in 2012 Over 2011
SOUTH BEND, IND. — (March 22, 2012) — So much for the winter doldrums for area realtors. According to the latest housing data compiled by RE/MAX of Indiana, the Saint Joseph County real estate market recorded strong growth for the early months of 2012. Nearly 20 percent more homes sold during January and February with 291 homes compared to the same time last year with 244 homes.
Homes in the area have been selling faster as well, which is good news for local residents. The average number of days a house remained on the market fell nearly 23 percent in the first two months of 2012 compared to 2011, from 135 days to 104 days.
Meanwhile, the prices of homes increased modestly, with a four-percent increase in January and February from an average of $87,780 to $91,143.
“The record-low interest rates combined with amazing home prices are great ‘on paper’ reasons for buyers to move forward now. That’s the logical reason why the market has performed so well in Saint Joseph recently,” said Diane Bennett of RE/MAX 100.
“But, home purchases are emotional decisions, too, and people are ready to turn the page on the economic downturn and move on. Confidence is returning to the market. And even those whose credit ratings do not allow for traditional mortgage purchases are taking advantage of other options.”