Report: Elkhart County in a seller’s housing market
ELKHART, Ind. —- The Elkhart County Board of Realtors said on Wednesday it’s good news for home sellers in Elkhart County.
According to a report released on March 27, 230 homes have been sold between the start of the year to February. The number is nine less than last year.
However, the county board of realtors said sellers are getting more for their money because there aren’t as many houses to choose from. According to the county board of realtors, the county has been in a seller’s market for about five to six years.
“I never owned a home until five years ago,” said Carol Ouzounian.
Ouzounian said she bought a home in the City of Elkhart. She said buying a home is the greatest thing a person could ever do.
“We have so many people who live outside of the city and work in the city,” said Ouzounian. “So it’d be great to have them come join us in the town and make it grow.”
Compared to February 2019 to February 2018, there are more homes on the market. The media sales price of a residential property is $146,000.
According to the report, a home in Elkhart County might spend an average of 43 days on the market. In 2016, a home could spend an average of 94 days on the market.
“Real estate and housing is a part of the picture when you look at the health of the economy,” said Levon Johnson, Greater Elkhart Chamber of Commerce president.
Johnson said businesses and potential employees want to know if Elkhart County is in a buyer or seller market and where homes are being built.
He said people have commuted to Elkhart County for work in the past.
“It’s not that they didn’t want to live here it’s just no housing,” he said.
The Elkhart County Board of Realtors said the number of new properties coming on the market is still low. But according to a member, this new data is a really good indicator.