Four Central Indiana counties report increased sales
August 2009 pended home sales match sales in August 2008
INDIANAPOLIS – More than 2,200 Central Indiana homes pended in August, with four counties reporting increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company.
August pended home sales in the nine-county area were down only 0.1 percent overall with 2,213 homes pended compared to 2,216 in August 2008. Johnson County posted a 17.8 percent increase, followed by Hancock County at 15.4 percent and Marion and Hamilton counties with 5.9 percent and 0.9 percent increase, respectively. Year to date, overall pended home sales are down 7.5 percent compared to the same timeframe in 2008.
Available homes for sale in the nine-county region dropped 16.3 percent in August 2009 with 16,068 homes on the market, 3,130 fewer homes than in August 2008. Two counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 20.0 percent, followed by Hancock County with 18.6 percent.
August housing statistics point to continued opportunities for buyers to take advantage of slightly 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 $138,748, 5.5 percent less than the same period last year.
“August home sales, virtually the same as last year, reflect the positive and steady rebound of the local real estate market,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Attractive home prices, low interest rates and a first-time home buyer credit have made housing more affordable than it has been in the last two decades.”
Active Listings – Inventory
County
August 08
August 09
% Change
Boone
636
603
-5.2%
Hamilton
3,266
2,796
-14.4%
Hancock
733
597
-18.6%
Hendricks
1,434
1,222
-14.8%
Johnson
1,399
1,250
-10.7%
Madison
1,142
980
-14.2%
Marion
9,530
7,621
-20.0%
Morgan
669
626
-6.4%
Shelby
389
373
-4.1%
TOTAL
19,198
16,068
-16.3%
Pended single-family and condominium home sales
Month-to-Month % Change
Year-to-date
68
54
-20.6%
-0.4%
428
432
0.9%
-7.7%
65
75
15.4%
-12.3%
202
162
-19.8%
-8.6%
146
172
17.8%
-0.5%
138
112
-18.8%
-6.5%
1,036
1,097
5.9%
86
-20.9%
-9.9%
47
41
-12.8%
-24.1%
2,216
2,213
-0.1%
-7.5%
Active Listings over Time
Month
Active Listings
from Prior Year
Aug-08
18,828
-10.9%
Sep-08
18,393
-12.2%
Oct-08
17,746
-12.7%
Nov-08
16,792
-13.0%
Dec-08
15,560
-14.3%
Jan-09
15,415
-14.5%
Feb-09
15,377
Mar-09
15,562
-15.6%
Apr-09
15,785
-16.9%
May-09
15,801
-18.0%
Jun-09
16,152
-17.5%
Jul-09
16,223
-16.8%
Aug-09
Average Sale Price
YTD August
08
09
$254,498
$255,609
0.4%
$248,272
$226,066
-8.9%
$138,568
$131,939
-4.8%
$161,161
$159,460
-1.1%
$146,374
$138,617
-5.3%
$77,692
$71,842
$106,828
$104,199
-2.5%
$134,955
$123,247
-8.7%
$103,364
$82,094
Average
$146,805
$138,748
-5.5%
2009 Three counties show improvement in Central Indiana housing market
July statistics point to areas with improved sales, overall shrinking inventory
INDIANAPOLIS– While overall pended home sales remain lower on a month-to-month and year-to-date basis in Central Indiana, three Indianapolis-area counties reported higher sales than the same time last year, according to pended sales statistics compiled by F.C.Tucker Company.
July pended home sales in the nine-county area were down 3.1 percent overall with 2,267 homes pending compared to 2,339 in July 2008. Johnson County posted a 1.3 percent increase, followed by Marion County and Hamilton County, with 1.1 percent and .7 percent increase, respectively. Year to date, overall pended home sales are down 9.1 percent compared to the same time frame in 2008.
Housing inventory in Central Indiana continued to drop in July with 16,223 homes on the market in the nine-county region, 3,267 fewer homes than in July 2008 – a 16.8 percent decrease overall in inventory. Marion County was the only county to experience above average inventory declines with a 21.5 percent decrease.
“While the Central Indiana real estate market continues to stabilize and improve, I believe the momentum we’ve gained in the past few months will carry through to the end of the year,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “The economy is picking up, and we’re seeing the light at the end of the tunnel.”
Average year-to-date home sale prices, down 11.8 percent from the July 2008 year-to-date figures, have shown a steady improvement since January 2009. In January 2009, the average year-to-date home sale price was $118,438; in July 2009, it was $136,943.
A recent USA Today survey indicated two-thirds of economists believe existing-home sales have hit bottom. Also, consumer spending has stabilized. Such signals are prompting 37 percent of economists to predict a moderate or fast recovery.
Active Listings –Inventory
July 08
July 09
649
615
3,307
2,851
-13.8%
722
-13.3%
1,437
1,230
1,405
1,295
-7.8%
1,140
963
-15.5%
9,772
7,673
-21.5%
665
608
393
362
-7.9%
19,490
88
74
-15.9%
-0.6%
455
458
0.7%
-10.1%
63
-14.9%
-17.3%
192
189
-1.6%
-7.4%
157
159
1.3%
-4.0%
156
116
-25.6%
1,085
1.1%
89
-8.5%
43
37
-14.0%
-24.6%
2,339
2,267
-3.1%
-9.1%
Jul-08
19,335
YTD July
$257,359
$224,708
$251,116
$224,758
-10.5%
$140,076
$129,801
-7.3%
$161,859
$159,435
-1.5%
$147,717
$137,560
-6.9%
$77,603
$70,356
-9.3%
$106,589
$101,822
-4.5%
$135,201
$122,492
-9.4%
$103,174
$79,466
-23.0%
$155,240
$136,943
-11.8%
Home Prices over Time
YTD Average Sale Price
YTD % Change
$118,438
-12.6%
$120,880
$123,461
-12.4%
$123,813
-11.9%
$129,672
-9.5%
$135,408
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