REAL ESTATE
By Daniel Suddeath
Lancaster : The Lancaster Lofts are slated to open in 2021 near the intersection of East Market Street and Vincennes Street in New Albany . Photo by Daniel Suddeath
Supply and demand
Home real estate booming as need for new inventory grows
Southern Indiana is facing an enviable dilemma .
The demand for homes in Clark County and Floyd County is high , but the supply is low . Hundreds of new homes are planned or are being constructed , as realty and development in Southern Indiana have been seemingly undisturbed by the coronavirus .
“ Our sales are great and they ' ve been great even throughout the pandemic ,” said Chase Murphy , owner of Southern Indiana-based Murphy Homes .
While some areas like Sellersburg have seen a slowdown in development , other parts of Southern Indiana have exploded .
“ Jeffersonville and Charlestown are absolutely on fire ,” Murphy said . “ Floyd County is on fire , specifically Georgetown because there ' s a lot of new development happening .”
A trend has also emerged in Southern Indiana and in the Louisville market .
“ You ' ve got retirees buying the same thing that millennials are buying ,” said Paul Kiger , realtor and owner of the Paul Kiger Group for RE / MAX Advantage in Floyds Knobs .
“ They want small , they want efficient and they want nice .”
And when there aren ' t new constructions available , resales take the lead .
In places like downtown New Albany , a remodeled
24 November / December 2020