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Indianapolis Market Watch

May 2010 Market Data

July 14th, 2010 3:20 PM

Average Sale Price

Months of Supply by County

Months of Supply by Price Point

Sold Properties by Price Point

Posted by Ryan Hart on July 14th, 2010 3:20 PMPost a Comment (0)

Positive Central Indiana Housing Trends Continue

July 14th, 2010 3:23 PM

Central Indiana home sales and other key housing indicators continued an upward trend in the last quarter, according to statistics released today by the Metropolitan Indianapolis Board of REALTORS®. Units sold and pended sales increased 15 percent and 10 percent, respectively, during March to May 2010. In the six-month comparison, units sold and pended sales increased 8 percent and 9 percent, respectively, while the 12-month comparison shows units sold increased by 7 percent and units pended increased by 9 percent.

Although positive, the pended sales activity did slow by more than half in the March–May time period. Pendeds recorded February-April jumped by 25 percent likely due to the pending expiration of the tax credit.

Total sales volume also continued to rise during the three-, six- and 12-month comparisons. During March to May 2010, total sales volume increased 26 percent to $1.03 billion when compared to the same period in 2009, marking the first time in 2010 that sales volume exceed $1 billion. Sales volume increased 20 percent to $1.63 billion in the six-month comparison and increased 11 percent to $3.69 billion in the 12-month comparison.

Additional key local findings:

Average sale price increased 10 percent to $146,581 during the three-month period, when compared to the same period in 2009. During December 2009 to May 2010, average sale price increased 11 percent compared to the previous six-month period. A year comparison shows an increase of 4 percent.
Months of available supply decreased for homes at every price point.
Months of supply, regardless of price point, was down to 8.3 months in June 2010 compared to 9.7 months in June 2009.
New listings during the three-month period increased by 13 percent from the same period in 2009.

“The pended sales show the expected slow down following the tax credit expiration, but decreased inventory and continued strong sales prices are encouraging,” noted Sue Applegate 2010 MIBOR President.

Posted by Ryan Hart on July 14th, 2010 3:23 PMPost a Comment (0)

Hamilton County Housing Activity Increases

July 14th, 2010 3:21 PM

Home sales and prices were on the rise in Hamilton County during February to April 2010, according to statistics released today by the Metropolitan Indianapolis Board of REALTORS®. During the February to April 2010, units sold increased 23 percent, when compared to the same period in 2009. In six- and twelve-month comparisons, units sold increased by 19 percent and 8 percent, respectively.

“It is encouraging to see double digit increases in all the key areas for the last three months,” said Sue Applegate, 2010 MIBOR president. “The federal tax credit deadline most likely attributed to a surge of home sales in April, so looking at the six- and 12-month windows help give an even more accurate picture of the whole real estate market.”

Months of supply in Hamilton County decreased to 6.9 months – the lowest in central Indiana – in April 2010, down from 8.4 months in 2009.

Examining central Indiana as a whole, total home sales, sales volume, average sale price and median sale price increased during the three-, six- and 12-month comparisons. In the three-month outlook, units sold and units pended increased 11 percent and 25 percent, respectively, when compared to the same period in 2009. In a six-month comparison, units sold and units pended increased by 10 percent and 15 percent, respectively. A 12-month comparison shows units sold and units pended increased by 4 percent and 10 percent, respectively.

Additional key local findings:

Hamilton County average sale price increased 10 percent during February to April 2010, decreased 5 percent during the six-month period ending in April and remained the same as the previous year.
Months of available supply in the 13-county area decreased for homes priced up to $750,000
Months of supply in central Indiana, regardless of price point, was down to 8.2 months in April 2010 compared to 9.1 months in April 2009
New listings in central Indiana during the three-month period increased by 19 percent from the same period in 2009
Central Indiana total sales volume increased 26 percent to $835 million in the three-month outlook, while average and median sale price increased 14 and 12 percent, respectively, during February to April 2010. In a 12-month comparison, total sales volume increased 7 percent to $3.62 billion, while average and median sale price both increased 3 percent.

Posted by Ryan Hart on July 14th, 2010 3:21 PMPost a Comment (0)