Business

Linton real estate transaction for 2020 slow, lower priced than elsewhere

The cost of living in Linton is one of the main reasons to love Linton, as homes are a whopping 58% lower than the nationwide average. It is also lower than the general Indiana average by up to 8%. The majority of its residents live in their own houses, instead of rented apartments, and the cost of transportation, food, and more is relatively lower in Linton than in Indiana as a whole too.

But add in a worldwide pandemic and tighter lending standards, and the real estate market is slow, even for a small town. In scouring courthouse records, not even a dozen transactions per month on average took place within Linton for the first eight months of the year in 2020. And about a dozen of those were forced transactions, meaning they were result of bankruptcy, foreclosure, or death, such a sale of an estate. In fact, in those cases, the same property was transferred to the foreclosing bank, then sold to another buyer, for example, leading to two transactions on the same parcel within the same period.

In all, there were approximately eighty-eight real estate transfers within the first eight months of 2020. The entire total was about $13.4 million for the period, leading to an average transaction of about $152,000. But wait! That seems high for the average real estate transaction in Linton, Indiana. Well, in fact, it is.

Take out one transaction for the sale of the new Autumn Trace assisted living facility, for $6,075,000, and you have a much less skewed average: $85,000. Take out another larger land sale for over 75 acres, and the average of the remaining 86 parcels goes down to about $82,400. To be fair, though, some transactions were as low as $3,000.

Here is a look at all of the data compiled from scouring courthouse records for the first eight months of 2020:

Featured photo by bongkarn thanyakij from Pexels

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