Why Northwest Indiana is Buzzing with Home Sales
The second-home markets in Michigan, Indiana, and Wisconsin have gotten a lot of attention this year as people have sought a refuge outside of the city. But there’s a region off the lakefront that’s also generating buzz among both vacation-home and primary-home buyers. We’re talking about Northwest Indiana. Small towns just over the Illinois border are seeing an increase in transaction activity and a subsequent run-up in prices as well.
In the latest installment of @ The Market, @properties co-founder Thad Wong talked specifically about what’s happening in Crown Point, St. John, and Schererville, Indiana. Through the first three quarters of the year, the combined area saw transactions increase by nearly 10% year over year, while the average sales price rose 6.7% during that same period.
“You have a lot of buyers who are moving to the area to lower their cost of living. The taxes are lower and the communities have become more vibrant over the last decade,” said Wong. “I don’t think the trend is going to slow down.”
Wong also addressed @properties’ expansion in Northwest Indiana. Looking to take advantage of growing demand in the region, he and @properties co-founder Mike Golden recently announced that @properties will open an office in Schererville this November. Read more about @properties’ expansion initiative here and watch the video below for more Indiana market insights.