Housing market remains on upswing in Greater Lafayette through February 2018

Median sale price of the houses in Tippecanoe County was $150,000 in February, a 21 percent increase from a year ago, according to Indiana Association of Realtors.

The median home value in both West Lafayette and Lafayette increased by more than 8 percent year-to-year in March, according to real estate database company Zillow.

"That's an important piece of the stable community," Lafayette Mayor Tony Roswarski said. "We do want to see the housing market continue to rise. For most people, it's the biggest investment."

With the area's population growing at a rapid rate, the housing market continues to be a seller's market. The number of new listings went down by more than 10 percent, but the number of closed sales increased by more than 5 percent year-to-year, according to Indiana Association of Realtors.