Newly released data for December shows that potential buyers and sellers in Morgan County saw houses sell for higher than the previous month’s median sale price of $239,875.
The median home sold for $256,355, an analysis of data from Realtor.com shows. That means December, the most recent month for which figures are available, was up 6.9% from November.
Compared to December 2022, the median home sale price was down 7.3% at $256,355 compared to $276,450.
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in up-to-date data. The statistics don’t include homes currently listed for sale, and aren’t directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.indystar.com.
Looking only at single-family homes, the $258,338 median selling price in Morgan County was up 6.5% in December from $242,500 the month prior. Since December 2022, the sale price of single-family homes was down 7.3% from a median of $278,793.
Two single family homes sold for $1 million or more during the month, compared to zero recorded transactions of at least $1 million in December 2022.
Condominiums and townhomes increased by 4.7% in sales price during December to a median of $225,000 from $214,875 in November. Compared to December 2022, the sales price of condominiums and townhomes was up 28.3% from $175,312. No condominiums or townhomes sold for at least $1 million or more during December.
In December, the number of recorded sales in Morgan County dropped by 35.6% since December 2022 from 174 to 112. All residential home sales totaled to $21.4 million.
In Indiana, homes sold at a median of $220,000 during December, down 2.5% from $225,722 in November. There were 8,950 recorded sales across the state during December, down 11.7% from 10,140 recorded sales in December 2022.
The total value of recorded residential home sales in Indiana decreased by 2.8% from $1.5 billion in November to $1.5 billion this December.
Out of all residential home sales in Indiana, 1.07% of homes sold for at least $1 million in December, up from 0.91% in December 2022.
Sales prices of single-family homes across Indiana decreased by 2.3% from a median of $225,918 in November to $220,708 in December. Since December 2022, the sale price of single-family homes across the state was down 1.9% from $224,983.
Across the state, the sale price of condominiums and townhomes dropped 10.1% from a median of $225,312 in November to $202,500 during December. The median sale price of condominiums and townhomes is down 10.6% from the median of $226,437 in December 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what’s happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared on The Reporter Times: Homes in Morgan County sold for higher prices recently: See how much here
Amanda Smith is a dedicated U.S. correspondent with a passion for uncovering the stories that shape the nation. With a background in political science, she provides in-depth analysis and insightful commentary on domestic affairs, ensuring readers are well-informed about the latest developments across the United States.
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