Hey! and thanks for stopping by!  It's July of 2010 and I'm just now updating the market update.  Having a great year, 2nd best in 14 years, hope it continues. 

MARKET UPDATE LaPorte County

For Single Family Residential Homes December, 2009

In December, local real estate activity was seasonally active. There are currently 803 residential properties on the market. They are broken down as follows:

Beach area - 151

Michigan City area -178

La Porte area – 244

Rolling Prairie/New Carlisle area – 77

County area - 153

In December, 56 residential properties closed, or 6.97% of current properties that were available as follows:

Beach area - 3 (YTD 62)

Michigan City area – 10 (YTD 242)

La Porte area – 18 (YTD 322)

Rolling Prairie/New Carlisle area - 7 (YTD 42)

County area -18 (YTD 205)

Interest rates inclined slightly during the last month and are just under 5.4%. The overall number of sales for all properties in La Porte County for 2009 compared to 2008 is down 8% and overall dollar volume is down 24.3%. There is currently a 14.3 month supply of residential properties on the market. As a property owner, your strategy should still be the same. Make sure your property is priced right. If you are not getting enough showings, it is time to get an updated Market Analysis and reposition your property in the marketplace. A repositioning is the most important thing you can do in the current market. When someone has a choice between 15 or 20 properties, the ones that are priced correctly and in the best condition almost always are the ones chosen.  It is an extremely challenging market. We are in a beauty contest and a price war.