Column by Cathy Patrick
If you’re a fan of HGTV, you’ve probably seen the show, “Love It or List It,” a reality series hosted by an interior designer and a Realtor. In each episode, the homeowners must decide between moving and renovating.
The scenario has become a reality for many families as our lifestyles change and we ask ourselves these questions:
- If we stay, what kind of improvements should we make?
- If we sell, what type of home will meet our needs?
- What can we expect in today’s market?
This month, I’ve asked Jim Schlueter of Encore Sotheby’s Realty to join me in covering this topic. We’ll share the perspective of the interior designer and the realtor so that you’ll be better prepared to make these decisions.
Let’s begin with a local market analysis. According to Schlueter, “The 2021 housing market has shown exceptional promise in central Indiana. Market statistics continue to support a strong seller’s market. Closed sales in January were up 10.1 percent compared to 2020. Specifically, at Encore Sotheby’s International Realty, the average list price is up 46 percent while our sold volume is up 54 percent. The message is clear that it’s a wonderful time to sell.”
Schlueter has some good news for home buyers as well.
“The seasonality of our market indicates more and more homes hitting the market in all price ranges and all sub-markets as we head into the spring and summer,” he said.