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When the recently expired federal tax credit for new home purchases ripped the heart out of real estate markets in several central Indiana cities many wondered when, or if, a rebound might occur. For many of those markets, the answer was June, 2010. For the Greenfield real estate market, unfortunately, this was not the case as total pending sales continued to fall, albeit not as quickly as the preceding month. Whereas there was a 45.3-percent drop in total pending sales in May, the drop was a less ominous 20-percent in June as 28 pending transactions were in line for closure. (0 comments)
The good news was that sales in Franklin, Indiana were up 2.9 percent. Tempering this news, however, is the fact that “2.9 percent”, in this case, translates into exactly 1 more sale than the previous month. Woohoo!!! Seriously though, any positive movement in this statistical category is good news, considering the alternative is zero, or even negative, movement. On the downside in June there were 25 percent fewer pending sales. Moreover, June’s total of 21 was 34.4 percent below last June’s total of 32. At least this decrease was less severe than that of the previous month when total (0 comments)
Whereas the number of pending sales dropped 52.3 percent in May, there was a less severe drop of just 17.2 percent in June. Extrapolating from the trajectory of our line graph it’s conceivable that all negative growth will cease in the coming weeks, and possibly turn positive thereafter. Attention Fishers real estate agents: Get out there and sell! That’s because the total number of homes sold dropped 7.9 percent, from 151 in May to 139 June. When compared to Last June’s total of 157 sales this represents a drop of 11.5 percent. The Fishers sales pipeline is in need (0 comments)
The Indianapolis real estate market took a serious blow in May following the expiration of the federal tax credit for new home purchases. Pending sales totals in all townships were sent hurtling downward in what appeared to be the beginning of a new slump, and when the market would recover was anyone’s guess. While conclusive data will emerge over time there are least some signs that things have begun to stabilize, starting with the latest pending sales totals. In Indianapolis, 5 out of 9 townships showed significant increases in total pending sales. City-wide, pending sales totaled 735, up 7.3 (0 comments)
An economic development agreement, approved by the Fishers Town Council on March 31, 2010, will allow Butler Automotive Group to build a $19 million auto mall which will accommodate up to 5 auto dealerships and be situated along the west side of State Road 37. According to Butler, the final development, the completion of which is expected sometime around 2013, could bring with it around 230 new jobs. Construction of a new Butler Nissan dealership, which had already been approved by the town’s Advisory Plan Commission, should commence this spring. Under the development agreement a tax-increment financing district that (0 comments)
The Danville real estate market didn’t look so hot in June, 2010 as evidenced by the 3 fundamental indicators of total sales, total pending sales and total homes for sale. Starting with pending sales, there was a 46.7-perent drop, from 15 in May to just 8 in June. Relative to June of 2009 this represents an even greater drop of 52.9 percent. Just two of the previous month’s pending transactions turned into closed sales. In all, there were 22 closed sales in June versus 22 in May—a 10-percent increase. But in focusing on the month-to-month fluctuations it’s easy to (0 comments)
If you fall into the category of someone who isn’t sure whether now is a good time to buy a home then I have just three words for you: Get out there! With interest rates at historic lows and with a great selection of Indianapolis homes for sale the state of current market is almost the very definition of a good time to buy. “But I’m not sure the market has bottomed-out yet.” The problem with waiting for the market to hit rock bottom is that it greatly increases the likelihood paying an even greater price at some future point (3 comments)
Things were not as bad for the Carmel real estate market in June compared to May, when total pending sales shrank by 45 percent. Perhaps still feeling the effects of the recently expired federal tax credit for new home purchases, in June, 2010 total pending sales fell just 10 percent from the previous month’s total of 90. When put against last June’s total of 122 pending sales this is a decrease of 26.2 percent. But while 10 pending sales exited the pipeline in June, at least 4 of these became closed sales. In all, sales grew in Carmel by 3 (0 comments)
In one of the most important areas of measurement—total pending sales--the Brownsburg real estate market showed significant improvement in June, 2010. After nose-diving from 81 to 21 the previous month, total pending sales were up 114.3 percent in June, with 45 total pending sales making their way through the pipeline. At least for now, that’s where the good news ends. That’s because total sales dropped a hefty 32.9 percent, from 70 in May to just 47 in June. At least when compared to last June’s total of 56 sales the difference was only -16.1 percent. On the bright side, (0 comments)
You can’t lose two-thirds of your pending sales one month and expect everything to be fine the next month. This was partly true for the Avon real estate market in June, 2010. While total pending sales in Avon, Indiana did rebound from the worst 1-month drop in 15 months, total closed sales were down significantly. Starting with total pending sales, there was a 6.5-percent increase versus last month’s total of 31. Compared last June’s total of 59, however, pending sales were down 44.1 percent. The bad news: There was a 37.5-percent drop in total closed sales as 27 fewer (0 comments)
Congratulations are in order to Fishers, Indiana for making CNN Money’s list of the “100 Best Places to Live in America” (2010 edition). With its very low crime and booming economy Fishers claimed the #8 spot on this list of America's best small cities. While most residents would likely disagree with the author’s assertion that Fishers is “low on charm” few would disagree that this town of 69,000 offers numerous advantages, including a strong sense of community, great school system, ample shopping opportunities and close proximity to a major metropolitan area. And Fishers real estate is inexpensive as well. (0 comments)
What stands out most from the Westfield real estate data is the reverse directions of lines representing total listings and total sales, with the latter heading in a negative direction for the first time in 4 months. Maybe this had something to do with the recently expired federal tax credit for new home purchases. Whatever the case, the total number of homes sold in Westfield, Indiana dropped 22.4 percent, from 49 in April to 38 in May, 2010. Compared to a total of 44 sales in May of 2009 this was a decrease of 13.6 percent. In contrast, the (0 comments)
The town of Zionsville, Indiana was indeed in the minority in the category of total sales. The total number of homes sold rose 27.3 percent, from 33 in April to 42 in May, 2010. Compared to a total of 49 sales in May of 2009, however, this was a 14.3 percent decrease. Still, this is not bad performance considering the recent expiration of the federal tax credit for new home purchases. But while closed sales were on the rise the total number of pending sales suffered a 21.4-percent decrease, dropping from 42 in April to 33 in May. Of (0 comments)
There are two things that really stand out in the above graph: pending sales and close sales, both of which are interrelated. Starting with pending sales, there was a 59.1-percent drop from 22 the previous month to just 9 in May. Compared to May of 2009 this was a 25-percent drop. This significant drop translated into a huge 125-percent rise in the total number of homes sold as several pending sales finally made it to the closing table. May’s total of 18 sales was more than double April’s total and 5.6-percent more than May of 2009. Our third, key (0 comments)
Not surprisingly, the total number of pending sales in Greenfield, Indiana dropped significantly in May, 2010. In fact, May’s total of 30 pending sales was exactly half that of the previous month. While this is a large drop it is nevertheless a 7.1-percent increase versus last May’s total of 28 pending sales. Of course, usually when there is a drop in the total number of pending sales it is because those pending sales turned into closed sales. This could be seen in May as there was a 12.8-percent increase in the total number of close sales, from 39 in (0 comments)
The total number of Greenwood homes sold rose 21 percent, from 119 in April to 144 in May, 2010. Compared to 117 closed sales in May of 2009 this was a 23.1-percent increase. By extension, the total months of inventory based on closed sales dropped from 5.8 in April to 4.9 in May. Each 1-percent increase in total sales was accompanied by a 3-percent decrease in the total number of pending sales. To be exact, the total number of pending sales dropped 63.7 percent, from 146 in April to a mere 53 in May. Of course, a good part (0 comments)
While there were more homes for sale there were fewer actual sales in Martinsville, Indiana in May, 2010. While this is a good statistical combination if you’re a buyer, it’s probably not such a good one for sellers. The total number of Martinsville homes for sale rose 1.4 percent, from 296 listings in April to 300 in May. Compared to last May’s total of 311 listings, however, this was a 3.5-percent decrease. But while the total number of listings was on the rise, the total number of sales was dropping 2.9 percent. But the most precipitous fall came in (0 comments)
The total number of Mooresville homes for sale rose 10.5 percent, from 19 in April to 21 in May, 2010. Compared to last May’s total of 158 this was an increase of 7.6 percent. Also on the rise—barely—was the total number of Mooresville homes for sale, from 169 in April to 170 in May. Compared to 158 total listings in May of 2009 this was an increase of 7.6 percent. But alas, as has been the case in every other city in central Indiana that we have thus far reviewed, there was s significant drop in total pending sales (0 comments)
If you were a real estate professional working in Noblesville in May, 2010 chances are you weren’t entirely thrilled with what happened to your pipeline. That’s because the total number of pending sales—i.e., those things that eventually turn into commission checks, thereby enabling you to survive and feed your family—dropped an inconvenient 58 percent, from 143 in April to just 60 in May. This may very well have a lot to do with the expiration of the federal tax credit for home purchases. Compared to a total of 107 pending sales in May of 2009 this was a 43.9 (2 comments)
The Indianapolis real estate market cooled a bit during May, 2010. Considering that every single township in the city experienced a drop in total pending sales, the question is not whether this key stat dropped but by how much. The total number of pending sales city-wide dropped 54.4 percent, from 1393 in April to just 635 in May. And the corresponding increase in the total number of homes sold that one would expect to see as all those pending sales turned into closed sales? It basically wasn’t there; not unless you count a mere 1.6-percent increase. So while there (0 comments)
As has been the case throughout much of central Indiana, the total number of pending sales in Brownsburg underwent a steep drop-off in May, 2010. From 74 pending sales in April to just 20 in May this drop-off measured 73 percent to be exact. Even compared to last May the difference was pronounced as there were 64.3 percent fewer pending sales. The flip-side of this all was that the total number of actual, closed sales rose 10.5 percent, from 57 in April to 63 in May. Compared to last year (May, 2009) this was an even larger increase of (0 comments)
What stood out most about the Carmel real estate market in May, 2010 was how little it stood out from so many other towns and cities in central Indiana in the statistical categories of close sales, pending sales and listings. Starting with the total number of homes sold, there was an increase of 3.3 percent as there were 126 sales in May versus 122 in April. This was a 24.8-percent increase compared to last May’s total of just 101 sales. But while the pipeline may have dried to some extent, with the conversion of pending sales into closed sales, (0 comments)
Come one, come all to the President Benjamin Harrison Home's annual July 4th Ice Cream Social in Indianapolis downtown. This Indianapolis event offers historical fun with a twist. The whole family will enjoy mixing and mingling with presidential re-enactors as the Benjamin Harrison Presidential Home celebrates the Fourth of July in true Commander and Chief style. The fun starts at 11:30 am and lasts until 4:00 pm. Tickets are $10.00 for Indianapolis people and $4.00 for Indianapolis kids with a student ID. Children under four will be admitted for FREE. For thirty five years, the President Benjamin Harrison Home has (1 comments)
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