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Strong year for residential and commercial real estate

Updated: Wednesday, 30 Jan 2013, 9:07 AM EST
Published : Wednesday, 30 Jan 2013, 12:28 AM EST

TIPPECANOE COUNTY, Ind. (WLFI) - Home sales in Tippecanoe County are the highest they've been in years, while commercial real estate is booming as well.

Results for the 19th annual F.C. Tucker/Lafayette State of Real Estate show more homes sold in 2012 than have sold in any year since 2006. The total number of units sold in Tippecanoe County was 1,923 for a total sales volume of nearly $284 million.

On the commercial side, $646 million of capital investments were made or announced in 2012, many from manufacturers like Subaru of Indiana Automotive and Nanshan America Advanced Aluminum Technologies.

Smaller retail businesses like Gander Mountain, Party City and downtown shops also made investments.

"We have such a strong community and we have such community support for industry and for the universities," said Lou Johnson, a residential broker.

Johnson expects to see new construction move right along into 2013, especially outside Lafayette and West Lafayette city limits.

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