Great news for the Valparaiso Indiana home market.
According to reports generated from the Greater Northwest Indiana Association of Realtors (GNIAR) MLS, the residential home market appears to be strengthening and showing a solid core of homes retaining or adding value. The median house price rose again to $175,000 in 2009 in Valpo, continuing a strong trend over the last six years. Cities across the country with a strong base of long time residents, core businesses, and higher education opportunities are reporting similar findings. Unit sales of residential homes did drop slightly to 762 units for 2009 as the national economy was sluggish and lending challenges reduced employment continued.
The market as a whole was supported by the government tax credits of $8,000 for homebuyers, and the new $6,500 home seller credit that continues thru mid 2010. November 2009 saw a huge increase of over 40% in sales in Porter County Indiana, partially attributed to the credits.
Anchored by Valparaiso University and a strong primary and secondary education system, Valparaiso continues to be a city of choice for relocation from around the region, including Illinois’ Chicago suburbs. Residents enjoy a one hour commute on the skyway to Downtown Chicago, as well as good bus access on Chicago Dash and rail access via the South Shore railroad.