Home sweet home
Published 8:52 am Monday, January 29, 2018
NILES — Last year, when Tim Day, 33, got a job as a resident at South Bend Memorial Hospital, he and his wife, Diana, and their daughter, Anabelle, 1, moved from South Carolina and began searching for a place in the Michiana area to call home.
The couple searched the surrounding communities of northern Indiana and southwest Michigan — but something about the Niles area felt like the right fit.
“We are from a small town and we like the idea of being in a place that is a little quieter and had bigger yards for kids, and dogs and we liked Niles,” Diana said via phone from her Niles Township home.
In May 2017, they bought a home in the 200 block of Old U.S. 31 in Niles Township.
Diana said proximity played a large role in their decision to buy the home.
“We are less than a half-hour from my husband’s job and less than a half-hour from all the wonderful things in southwest Michigan,” Diana said.
The Days liked other things about the Niles area, too, including taking Annabelle to play at Riverfront Park, strolling the downtown and attending free community events at the Niles District Library, Diana said.
The Days are not the only young family to pack up their bags and buy a home in Niles. In fact, their story is consistent with a larger trend that has persisted across the Michiana area for the past two years, where homes on the market are quickly snatched up by the latest buyer.
Mike Moore is a sales agent for Michiana Homes Team at RE/MAX 100 in Indiana and RE/MAX Modern in Michigan. He has been licensed to sell in Indiana since 2006 and Michigan since 2007.
Moore said throughout the past two years, the housing market has seen an undeniable change.
“I have noticed a shift in general from a buyer’s to seller’s market,” Moore said.
Single-family and multi-family dwellings have been some of the most popular. As far as why people might choose to move to the Niles area, Moore said he has heard customers lament that they are looking for bigger yards and housing lots, which can be difficult to find in a congested city. But while they want more land, home buyers also want to be close to city amenities, he said.
In Niles, customers can get their slice of small town life and still have access to shopping, schools and community events.
Throughout the past four years, residential units have spent significantly less time waiting on the market to find a new owner. According to data gathered by Moore for houses on the market through Michiana Home Sales, in 2017, there were 442 residential units listed for sale, across Niles and Niles Township. Of those units, 398 sold that year. The average time they spent on the market was 40 days. The average sales price listed was $112,785.
It’s a stark contrast compared to data in 2013, which, according to Michiana Home Sales, shows that the average unit sale price listed was $71,071 and sat on the market for an average of 180 days.
Comparatively in 2013, the average Niles/Niles Township home sat on the market an average of 89 days before it was sold. In 2017, units were selling at an average rate of 54 days on the market.
The South Bend and Portage Township area also saw a similar market trend. According to data from sales at Michiana Home Sales, in 2017 a home sat on the market for an average of 54 days. In 2013 in South Bend, the average home sat on the market for 89 days.
Niles Community Housing Development Director Sanya Vitale agrees that small town life is part of the draw, but she has another theory, too.
“Niles is poppin’,” Vitale said. “There is a lot going on here. We are working pretty hard to market our community and let folks know that we are a safe, solid, family-oriented community with some really neat and interesting things going on.”
A revitalized downtown as well as more than 200 acres of local park land, is another big draw to Niles, Vitale said. Plus, the St. Joseph River offers residents a chance to buy waterfront property or appreciate the riverfront views from the trails and parks along the banks.
“Everywhere in Niles where there is river, there is a beautiful trail to go with it,” Vitale said.
City Administrator Ric Huff has also taken note of the trend. He said he credits a dependable city infrastructure and low crime rates, compared to other areas, as at least two things that bring people to Niles.
While homes are selling quickly, there are not many new homes on the market. Most of the homes sold had been built years ago. Huff said he does not expect that to change, even as the population grows.
“I think you are going to see more home remodels in current homes and opportunities now for people to sell their homes and transition to different sized homes where they can sell them at the market value,” Huff said. “I think there were a lot of retired-age people that were staying in their homes because the market did not support them selling it.”
But Moore is hoping that realtors see more new home developments in the area soon, so there is more on the market to fill demand. If a home buyer cannot find what they are looking for, sometimes they change their standards, but sometimes it also means they take their business elsewhere, he said.
If trends say anything to home buyers out there, it is if they see a home they like, they should probably buy it fast.