elkhart indiana real estate market report 2023

Elkhart County Real Estate Market – January 2023

Welcome to the January Real Estate Report for Elkhart County, Indiana. This report is put together by me (Realtor Nick Foy 574-387-2501) monthly to highlight market data and update buyers/sellers on what’s happening in the local Elkhart Real Estate market.

For January here is what the data says for Elkhart Real Estate…

Real Estate Data – Elkhart, Indiana

Number of Homes Sold – 143

The number of homes sold in Elkhart County in January were 143 homes. This covers sales of homes across the entire county with all cities combined together. Here’s a breakdown on how many homes sold per city.

  • Elkhart* – 89 home sales
  • Goshen – 34 home sales
  • Bristol – 8 home sales
  • Nappanee – 1 home sale
  • Middlebury – 4 home sales
  • Wakarusa – 1 home sale
  • Millersburg – 2 home sales

In January of 2022, there were 134 home sales. This means that more people sold their homes in January 2023 than they did one year prior in 2022. This is positive news for the real estate market that home sales are not slowing down!

*Elkhart includes both the city of Elkhart and Granger (that is part of Elkhart County).

Average Sale Price – $234,244

Out of the 143 homes that sold in Elkhart in January, the combined average sale price was $234,244. If we compared this average sale price to 2022, we can see that January 2022 had an average sale price of $236,810.

This means home values year over year fell 1% which is a very minimal loss of value of home prices.

Here is the average sale price in January 2023 by city:

  • Elkhart – $221,823
  • Goshen – $251,444
  • Bristol – $232,412
  • Nappanee – $245,000
  • Middlebury – $409,587
  • Wakarusa – $204,000
  • Millersburg – $189,900

Average Days on Market – 29 Days

The average number of days a home sat on the market before selling was 29 days. This number is up from 18 days in January 2022. Homes are taking 11 days longer to sell in 2023 than they did one year prior. However, this is still below the normal average of 3 months a home usually takes to sell in a balanced market. 1 month is considered a quick sale and favorable to sellers.

Here are the average days on market by city:

  • Elkhart – 36 days
  • Goshen – 17 days
  • Bristol – 13 days
  • Nappanee – 10 days
  • Middlebury – 31 days
  • Wakarusa – 15 days
  • Millersburg – 47 days

Need Help Selling Your Home? Buying a Home?

Thanks for checking out my market report on Elkhart County, Indiana. If you need help buying a home or selling your home please call me for a free consultation to go over your real estate needs. I’d love to be a helpful resource and give you lots of helpful information so you can make an informed decision!

Best regards

Realtor Nick Foy

realtor nick foy elkhart

RE/MAX Oak Crest Realty Elkhart

Northern Indiana Real Estate Agent