Indianapolis Market Watch

2009 Two Central Indiana counties report increased sales in June

Available inventory in the nine-county region still low compared to 2008

INDIANAPOLIS– Nearly 2,300 Central Indiana homes pended in June, with two counties reporting increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company. Johnson County posted a 14.9 percent increase, and Marion County sales rose 4.9 percent.

June pended home sales in the nine-county area were down 1.4 percent with 2,298 homes pending compared to 2,330 in June 2008. Year to date, overall pended home sales are down 10.6 percent compared to the same timeframe in 2008.

Available homes for sale in the nine-county region dropped 17.5 percent in June 2009 with 16,152 homes on the market, 3,438 fewer homes than in June 2008. Two counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 22.4 percent, followed by Madison County with 19.1 percent.

“June home sales, down only 1.4 percent from last year, show a promising sign of a steady rebound of the local real estate market,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Also, we are seeing more prospective home buyers, especially in the first-time buyer category, come off the sidelines and take a look at available inventory.”

June housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across the nine-county Central Indiana region. The average year-to-date sales price for a home in the nine-county area was $135,408, 6.9 percent less than the same period last year. However, home sale prices have slowly increased from $118,438 in January 2009.

Active Listings – Inventory

Pended single-family and condominium home sales

Active Listings over Time

Average Sale Price

Home Prices over Time