february recap: what's ahead for spring market

The midwest’s longest month of the year (February) is finally over!!! March is here, and the spring market is about to be in full swing. This is the time of year when buyers and sellers are coming out of hibernation and looking to make moves.

Let’s look at where Valpo finished February compared to last year, to understand the state of our market as we head into spring market…

• Home selling prices are up drastically–almost $100,000 versus last year for the month. This is a HUGE jump compared to average selling prices last year. Which makes sense, because the homes sold in February were actually larger than they were last year.

• Days on the market slightly increased, and homes actually sold for less than list price (97% of list) on average

• We sold almost the same exact number of homes in Valpo in 2022 as we did in 2021.

That last point should be our shining, glimmering, beacon of hope. Why? Because there are STILL homes on the market to be sold! Yes, inventory is lower. Yes, sitting inventory is lower as well. HOWEVER, people are still buying and selling homes in this market. We are not completely at a stalemate. Which leads me to the biggest takeaway for you today….

If you are looking to buy, now is still the time! There are still homes available to buy–it’s just taking a little longer than it has in the past.

If you are looking to sell, now is still the time! You can get record prices for your home AND I can still find you a new home as well. I will never leave you homeless–I promise. We can sell your home and still find you your next dream home as well. It just requires a little bit of patience these days.

Now, sure these numbers are specific to my hometown, but they can be used directionally across all of NWI.

If you want more info on buying & selling, or to subscribe to my newsletter, reach out to me here: https://www.annakenneyrealtor.com/buy-or-sell