2021 NWI Home Sales

The Northwest Indiana Housing market was on fire in 2021. I’m sure by now you have heard about how homes are selling within days and at times for well over list price. I’m here to tell you, it is true!

Northwest Indiana home sales were up 1.258% compared to the year before with 12,797 single family homes selling. Now, I’m sure this isn’t the massive increase like you were thinking but this is why the values are rising the way they are.

The average home sold in 2021 was $248,911 for an increase of 10.365% compared to the previous year. That is definitely not something we are use to here in Northwest Indiana. In a normal market we’d see something around 4% to 5% Annually. Plus the average price per square foot was up 13.44% at $128.53. So clearly home values are booming at the moment.

Another crazy fact for you. 83% of homes in 2021 were sold within 30 days of being on the market. with the total average time of all homes on the market for only 24 days. I would talk about how this relates to the previous year but they changed the way they track this at the beginning of 2021. This way it is way more accurate.

I think it is safe to say that 2021 was definitely a sellers market here in Northwest Indiana. Now, to start 2022 interest rates have started to increase which you would think that would slow things down. It’s doing the exact opposite. Homes are back to selling at record times, prices etc. It did start to slow towards the end of 2021. Especially the multiple offers we were seeing. Instead of 10 to 15 on each home as it was the end of 2020 and the first half of 2021 we were and are currently only seeing like 3 or 4 at a time. Some homes more of course.

If you are thinking about buying a home you definitely want to ready with financing and have your plan in place.