{"id":493,"date":"2022-07-09T02:16:46","date_gmt":"2022-07-09T02:16:46","guid":{"rendered":"https:\/\/stacygrove.com\/blog\/?p=493"},"modified":"2022-07-09T02:36:32","modified_gmt":"2022-07-09T02:36:32","slug":"q2-2022-greater-lafayette-housing-market-update%ef%bf%bc","status":"publish","type":"post","link":"https:\/\/stacygrove.com\/blog\/q2-2022-greater-lafayette-housing-market-update%ef%bf%bc\/","title":{"rendered":"Q2 2022 Greater Lafayette Housing Market Update\ufffc"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

As our economy shifts, few topics are more talked about than the housing market. Is it going to continue on a wild streak? Is it about to crash? Something in between? Everybody wants to know what\u2019s up. While I can\u2019t speak for the entire country, I can tell you about something I know a bit about\u2014what\u2019s happening in Tippecanoe County.<\/p>\n\n\n\n

Inventory and Number of Homes Sold<\/h2>\n\n\n\n

This is always the busiest time of year for listings, and we have 205 active listings on the market. If you\u2019re looking for a home, you\u2019ll probably have more choice now than you will later in the year.<\/p>\n\n\n\n

There were 1049 homes sold in Tippecanoe County in the first half of the year, and around 650 of those were during the second quarter, so we\u2019ve definitely seen an increase there, too.<\/p>\n\n\n\n

Average Days on the Market<\/h2>\n\n\n\n

The average days on the market has actually gone down since the first quarter, from 18 to 14. A whopping 132 homes have had ZERO days on the market and 315 homes sold in 24 hours or less, which has contributed to things feeling so crazy.<\/p>\n\n\n\n

If you\u2019re interested in a home, we\u2019re still seeing multiple offers, and you\u2019re still going to need to move quickly. You might have a bit<\/em> less competition than you\u2019ve had in the past, but no guarantees.<\/p>\n\n\n\n

Average Sales Price<\/h2>\n\n\n\n

The average sales price during the second quarter was $274,307. Homes sold ranged from $20,000 all the way up to $1.325 million.<\/p>\n\n\n\n

One question that I\u2019ve been getting is that with interest rates going up and uncertainty in the economy, will home prices start to depreciate?<\/p>\n\n\n\n

Here\u2019s what I\u2019m telling people.<\/p>\n\n\n\n

Appreciation<\/strong> is when home prices increase<\/em>.<\/p>\n\n\n\n

Depreciation<\/strong> is when home prices decrease<\/em>.<\/p>\n\n\n\n

Deceleration<\/strong> is when home prices continue to appreciate<\/em> but at a slower pace<\/em>.<\/p>\n\n\n\n

Experts forecast price deceleration, not depreciation. That means home prices will continue to rise, just at a slower pace than they have been.<\/p>\n\n\n\n

My Personal Stats<\/h2>\n\n\n\n

Just for fun, I wanted to mention my personal stats for the first half of the year. So far, of the 26 highest-priced homes in the county, I\u2019ve been involved in five of those transactions.<\/p>\n\n\n\n

I\u2019m the #5 broker in the Lafayette Regional Association of Realtors, and I represent the highest average sales price of the top five. (For what it\u2019s worth, #1 is a conglomeration of non-members\u2014builders, out-of-area brokers, etc.\u2014followed by my mom, Cathy, who is #2.)<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Thank you to everyone who has trusted me and my team with your buying and selling needs, and we\u2019re here to help whenever you need it. On to the second half of 2022!<\/p>\n\n\n\n

*stats per IRMLS as of 7\/5\/22<\/p>\n","protected":false},"excerpt":{"rendered":"

As our economy shifts, few topics are more talked about than the housing market. Is it going to continue on a wild streak? Is it about to crash? Something in between? Everybody wants to know what\u2019s up. While I can\u2019t speak for the entire country, I can tell you about something I know a bit […]<\/p>\n","protected":false},"author":2,"featured_media":503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-493","post","type-post","status-publish","format-standard","has-post-thumbnail","category-market-update","entry"],"jetpack_featured_media_url":"https:\/\/stacygrove.com\/blog\/wp-content\/uploads\/2022\/07\/Q2-2022-Housing-Market-Update.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/posts\/493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/comments?post=493"}],"version-history":[{"count":2,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/posts\/493\/revisions"}],"predecessor-version":[{"id":504,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/posts\/493\/revisions\/504"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/media\/503"}],"wp:attachment":[{"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/media?parent=493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/categories?post=493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/tags?post=493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}