Lafayette-area home prices fall 4.6% in June, with houses for sale in high demand
A typical Tippecanoe County home listed for $299,950 in June, down 4.6% from the previous month's $314,500, an analysis of data from Realtor.com shows.
The median list home price in June was up about 12.6% from June 2021. Tippecanoe County's median home was 1,936 square feet for a listed price of $151 per square foot.
The Tippecanoe County market was busy, with a median 23 days on market. A month earlier, homes had a median 17 days on market. The market added 196 new home listings in June, compared with the 172 added in June 2021. The market ended the month with some 150 listings of homes for sale.
The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
What were Lafayette-area home prices in June? Here's a county-by-county breakdown
White County's home prices rose 1.1%, to a median $262,950, from a month earlier. The typical house was on the market for 34 days, from 31 days a month earlier. The typical 1,576-square-foot house had a list price of $153 per square foot.
Clinton County's home prices fell 8.9%, to a median $168,450, from a month earlier. The typical house was on the market for 23 days, from 19 days a month earlier. The typical 1,709-square-foot house had a list price of $120 per square foot.
Fountain County's home prices fell 25.3%, to a median $199,500, from a month earlier. The typical house was on the market for 46 days, from 36 days a month earlier. The typical 2,058-square-foot house had a list price of $107 per square foot.
Across all of Indiana, median home prices were $278,450, rising 1.3% from a month earlier. The median Indiana home for sale had 1,943 square feet at list price of $140 per square foot.
Across the United States, median home prices were $450,000, up 0.7% from a month earlier. The median American home for sale had 1,887 square feet, listed at $228 per square foot.
The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database.. The story was written by Mike Stucka and Sean Lahman.