Valparaiso Real Estate Market Update – December 2022

Stay informed about sold Valparaiso real estate and what’s going on with homes for sale in Valparaiso by reading our monthly update on the local real estate market. Each month I review what happened last month, how it compares to last year, and the current inventory of Valparaiso homes for sale.

November 2022 Valparaiso Real Estate Sales

119 Valparaiso home sales were reported to the Northwest Indiana MLS during November. Overall, Valparaiso home prices appear to be increasing. However, the inventory of homes has changed. For example, single family homes’ total sale prices did not change much, and the average sale price even went down. On the other hand, homes in all categories are selling at a higher price per square foot.

Valparaiso Single Family Home Sales

104 houses were sold in Valparaiso during November. This is 6% less than November 2020. The average sale price was $300,975 and the median sale price was $294,000. These numbers are -6% and +1%, respectively, compared to November of 2020. Despite this, it does appear home prices are continuing to increase.

Valparaiso homebuyers are willing to pay more per square foot. The average sale price per square foot was $142.65. The median sale price per square foot was $142.15, +11% compared to November 2020. It is likely smaller, lower priced homes sold during November 2022 compared to the year earlier. This caused the total price to be lower but in fact home prices in Valparaiso are likely continuing to increase.

Valparaiso Condo Home Sales

There were nine condos sold in Valparaiso during November 2022. The average sale price per square foot was 6% compared to 2020 to $139.51. The median price per square foot rose 9% to $139.89.

Valparaiso Townhomes & Half-Duplexes Sales

Six half-duplexes or townhomes were sold in Valparaiso during November. The average sale price of these homes was $329,283, and the median sale price was $321,400, 7% higher than one year ago. The average sale price of $168.07 is 8% higher than a year ago, too. The median sale price per square foot was $150.63.

Valparaiso Luxury Home Sales

The Valparaiso luxury home market includes homes with a listing or sale price above $550,000. This is because these homes account for less than 10% of home sales. During November 2022 five Valparaiso homes sold for more than $550,000.

These homes had an average sale price of $618,200 and a median sale price of $625,000. The average sale price per square foot was $156.68, +17% compared to a year ago. The median sale price per square foot was +24% to $162.73. Do be cautious, though; five data points really is not that much. Notably, the five sales at this price mark a 50% reduction in the number of luxury homes sold during November compared to 2020.

Homes For Sale In Valparaiso, Indiana

Information About Homes Currently For Sale In Valparaiso, IN

There are too few homes for sale in Valparaiso. Currently, there are just over 90 homes for sale in Valparaiso, Indiana. 80 of these are single family homes with the remainder being condos, half-duplexes, and townhomes. Based on the number of homes sold from December 2020 through February 2022 we only have about 27 days of available inventory. This is below the Northwest Indiana region which currently has about 35 to 40 days of available inventory.

Valparaiso homes for sale continue to be expensive, too. Currently, the average list price of a home sale in Valparaiso is $548,130. The median list price is $446,725. Though both of these are lower than in October 2022, these prices are quite high. Currently, among all 3-bedroom houses the average and median list prices are $394,000 and $300, respectively. For a 4-bedroom Valparaiso house that jumps to an average list price of $512,709 and a median list price of $424,000.

Conclusion

The Valparaiso real estate market is wrapping up 2022 in good shape. Volume of closed sales is matching what was occurring at the same time last year, home prices are increasing, but year-over-year appreciation is starting to reflect more normal increases. The problem is having something for everyone to buy.

We have too few homes for sale in Valparaiso. Currently, we have less than one month of the homes needed to satisfy projected buyer demand. Additionally, home prices continue to climb and may become unattainable for some people. This could cause year-over-year growth of home Valparaiso home values to slow or stagnate during 2022. Time will tell.

The Quadwalls Team Of Realtors® In Valparaiso, Indiana

About Quadwalls.com

Quadwalls.com is a real estate website founded in Valparaiso, IN dedicated to helping home buyers and sellers make better decisions when buying and selling real estate. We do this by giving clear, honest information to our clients based on what we have learned by completing hundreds of home purchases and sales.

How Quadwalls Helps Homebuyers

The Quadwalls Real Estate Team has some of the best Realtors® in Valparaiso. We are ready to help you find and buy your new home. Each of the Quadwalls Team Valparaiso real estate agents is ready to provide you with attentive, personalized, warm, caring service to help you find and buy a home. Whether this is your first or fifteenth home purchase each of us has the skills and experience to represent you. Start viewing homes for sale in Valparaiso today!

How Quadwalls Helps Home Sellers

Receive a free, remarkably accurate market valuation of your home by completing the Quadwalls.com Interactive Home Value Experience. Also, we post the real estate commission fee we charge on our website. Our fees for our full-feature home selling services are amongst the lowest in the industry. Click here to learn more about our full-feature home selling services and my answers to home sellers’ most common questions when hiring a Realtor to sell their home.

Is There Something Else?

Do you just have some real estate related questions? If so, feel free to contact us. We will respect your privacy. All conversations and inquiries are confidential. Just let us know how we can help.

Data Resource

Data was sourced from GNIAR MLS database on November 2, 2022.

All Featured Homes were available for sale as of December 3, 2022. Please contact us or the named listing agency if you are inquiring about current availability.