Ryan's Blog

Indianapolis Market Watch for August 2009

Ryan Hart (Sold By Hart!) — Sat, 12 Sep 2009 15:20:56 -0500

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

County	August 08	August 09	Month-to-Month % Change	Year-to-date % Change
Boone	68	54	-20.6%	-0.4%
Hamilton	428	432	0.9%	-7.7%
Hancock	65	75	15.4%	-12.3%
Hendricks	202	162	-19.8%	-8.6%
Johnson	146	172	17.8%	-0.5%
Madison	138	112	-18.8%	-6.5%
Marion	1,036	1,097	5.9%	-7.7%
Morgan	86	68	-20.9%	-9.9%
Shelby	47	41	-12.8%	-24.1%
TOTAL	2,216	2,213	-0.1%	-7.5%

Active Listings over Time

Month	Active Listings	% Change 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	-14.3%
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	16,068	-16.3%

Average Sale Price

County	YTD August 08	YTD August 09	% Change
Boone	$254,498	$255,609	0.4%
Hamilton	$248,272	$226,066	-8.9%
Hancock	$138,568	$131,939	-4.8%
Hendricks	$161,161	$159,460	-1.1%
Johnson	$146,374	$138,617	-5.3%
Madison	$77,692	$71,842	-7.5%
Marion	$106,828	$104,199	-2.5%
Morgan	$134,955	$123,247	-8.7%
Shelby	$103,364	$82,094	-20.6%
Average	$146,805	$138,748	-5.5%

Indianapolis Market Watch for July 2009

Ryan Hart (Sold By Hart!) — Wed, 12 Aug 2009 17:41:02 -0500

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

County	July 08	July 09	% Change
Boone	649	615	-5.2%
Hamilton	3,307	2,851	-13.8%
Hancock	722	626	-13.3%
Hendricks	1,437	1,230	-14.4%
Johnson	1,405	1,295	-7.8%
Madison	1,140	963	-15.5%
Marion	9,772	7,673	-21.5%
Morgan	665	608	-8.6%
Shelby	393	362	-7.9%
TOTAL	19,490	16,223	-16.8%

Pended single-family and condominium home sales

County	July 08	July 09	Month-to-Month % Change	Year-to-date % Change
Boone	88	74	-15.9%	-0.6%
Hamilton	455	458	0.7%	-10.1%
Hancock	74	63	-14.9%	-17.3%
Hendricks	192	189	-1.6%	-7.4%
Johnson	157	159	1.3%	-4.0%
Madison	156	116	-25.6%	-4.0%
Marion	1,085	1,097	1.1%	-9.9%
Morgan	89	74	-16.9%	-8.5%
Shelby	43	37	-14.0%	-24.6%
TOTAL	2,339	2,267	-3.1%	-9.1%

Active Listings over Time

Month	Active Listings	% Change from Prior Year
Jul-08	19,335	-7.4%
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	-14.3%
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%

Average Sale Price

County	YTD July 08	YTD July 09	% Change
Boone	$257,359	$224,708	-12.7%
Hamilton	$251,116	$224,758	-10.5%
Hancock	$140,076	$129,801	-7.3%
Hendricks	$161,859	$159,435	-1.5%
Johnson	$147,717	$137,560	-6.9%
Madison	$77,603	$70,356	-9.3%
Marion	$106,589	$101,822	-4.5%
Morgan	$135,201	$122,492	-9.4%
Shelby	$103,174	$79,466	-23.0%
Average	$155,240	$136,943	-11.8%

Home Prices over Time

Month	YTD Average Sale Price	YTD % Change from Prior Year
Jan-09	$118,438	-12.6%
Feb-09	$120,880	-12.6%
Mar-09	$123,461	-12.4%
Apr-09	$123,813	-11.9%
May-09	$129,672	-9.5%
Jun-09	$135,408	-6.9%
Jul-09	$136,943	-11.8%

Indianapolis Market Watch for June 2009

Ryan Hart (Sold By Hart!) — Thu, 09 Jul 2009 22:40:03 -0500

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

County	June 08	June 09	% Change
Boone	647	616	-4.8%
Hamilton	3,363	2,914	-13.4%
Hancock	708	604	-14.7%
Hendricks	1,436	1,195	-16.8%
Johnson	1,411	1,284	-9.0%
Madison	1,169	946	-19.1%
Marion	9,796	7,605	-22.4%
Morgan	684	628	-8.2%
Shelby	376	360	-4.3%
TOTAL	19,590	16,152	-17.5%

Pended single-family and condominium home sales

County	June 08	June 09	Month-to-Month % Change	Year-to-date % Change
Boone	64	61	-4.7%	3.5%
Hamilton	475	426	-10.3%	-13.6%
Hancock	85	68	-20.0%	-15.7%
Hendricks	230	199	-13.5%	-10.0%
Johnson	174	200	14.9%	-5.2%
Madison	126	123	-2.4%	2.0%
Marion	1,072	1,124	4.9%	-11.6%
Morgan	69	64	-7.2%	-8.4%
Shelby	35	33	-5.7%	-26.4%
TOTAL	2,330	2,298	-1.4%	-10.6%

Active Listings over Time

Month	Active Listings	% Change from Prior Year
Jun-08	19,412	-6.6%
Jul-08	19,335	-7.4%
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	-14.3%
Mar-09	15,562	-15.6%
Apr-09	15,785	-16.9%
May-09	15,801	-18.0%
June-09	16,152	-17.5%

Average Sale Price

County	YTD June 08	YTD June 09	% Change
Boone	$256,825	$227,052	-11.6%
Hamilton	$249,021	$221,363	-11.1%
Hancock	$137,801	$128,369	-6.8%
Hendricks	$161,611	$160,662	-0.6%
Johnson	$147,226	$137,968	-6.3%
Madison	$75,780	$68,345	-9.8%
Marion	$105,132	$101,110	-3.8%
Morgan	$135,964	$121,595	-10.6%
Shelby	$100,442	$78,308	-22.0%
Average	$145,424	$135,408	-6.9%

Home Prices over Time

Month	YTD Average Sale Price	YTD % Change from Prior Year
Jan-09	$118,438	-12.6%
Feb-09	$120,880	-12.6%
Mar-09	$123,461	-12.4%
Apr-09	$123,813	-11.9%
May-09	$129,672	-9.5%
Jun-09	$135,408	-6.9%

Indianapolis Market Watch for May 2009

Ryan Hart (Sold By Hart!) — Thu, 18 Jun 2009 19:44:28 -0500

2009 Two Central Indiana counties report increased sales in May

Available inventory in the nine-county region continues to drop

INDIANAPOLIS – More than 2,200 Central Indiana homes pended in May, with two counties reporting increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company. Boone County posted a 32.4 percent increase, and Madison County sales rose 2.5 percent.

May pended home sales in the nine-county area were down 11 percent with 2,227 homes pending compared to 2,501 in May 2008. Year to date, overall pended home sales are down 12.8 percent compared to the same time frame in 2008.

Available homes for sale in the nine-county region dropped 18 percent in May 2009 with 15,801 homes on the market, 3,458 fewer homes than in May 2008. Four counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 23.7 percent, followed by Madison County with 19.2 percent and Hancock and Hendricks counties with 18.3 and 18.2 percent, respectively.

“Home inventory levels have consistently dropped over the past 12 months, and we’re nearing a balanced, six-month inventory level,” said John Snavley, Senior Vice President of F.C.Tucker Company. “At current pricing levels, with new homebuyer incentives and low mortgages rates, this is an excellent time to buy a home in Central Indiana.”

Even national pundits are stressing that in today’s real estate market, now is the time to buy. Recently, CNBC Mad Money host Jim Cramer commented on the nation’s state of th eeconomy and real estate market, saying “I think that real estate is a once-in-a-lifetime opportunity… mortgage rates are the lowest in my life, affordability is the best in my life. Clearly, real estate is much better than stocks right now.”

Active Listings -Inventory

County	May 08	May 09	% Change
Boone	620	592	-4.5%
Hamilton	3,230	2,888	-10.6%
Hancock	721	589	-18.3%
Hendricks	1,410	1,154	-18.2%
Johnson	1,396	1,312	-6.0%
Madison	1,138	919	-19.2%
Marion	9,717	7,414	-23.7%
Morgan	667	594	-10.9%
Shelby	360	339	-5.8%
TOTAL	19,259	15,801	-18.0%

Pended single-family and condominium home sales

County	May 08	May 09	Month-to-Month % Change	Year-to-date % Change
Boone	68	90	32.4%	4.8%
Hamilton	523	447	-14.5%	-15.7%
Hancock	65	57	-12.3%	-16.8%
Hendricks	235	210	-10.6%	-10.0%
Johnson	197	180	-8.6%	-12.2%
Madison	122	125	2.5%	2.1%
Marion	1,184	1,030	-13.0%	-14.0%
Morgan	60	54	-10.0%	-9.9%
Shelby	47	34	-27.7%	-27.5%
TOTAL	2,501	2,227	-11.0%	-12.8%

Active Listings over Time

Month	Active Listings	% Change from Prior Year
May-08	19,218	-4.1%
Jun-08	19,412	-6.6%
Jul-08	19,335	-7.4%
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	-14.3%
Mar-09	15,562	-15.6%
Apr-09	15,785	-16.9%
May-09	15,801	-18.0%

Average Sale Price

County	YTD May 08	YTD May 09	% Change
Boone	$254,781	$236,591	-7.1%
Hamilton	$250,339	$215,413	-14.0%
Hancock	$136,002	$127,393	-6.3%
Hendricks	$160,519	$160,165	-0.2%
Johnson	$143,940	$133,903	-7.0%
Madison	$76,623	$67,192	-12.3%
Marion	$102,349	$94,867	-7.3%
Morgan	$139,043	$120,081	-13.6%
Shelby	$95,672	$72,617	-24.1%
Average	$143,312	$129,672	-9.5%

Indianapolis Market Watch for April 2009

Ryan Hart (Sold By Hart!) — Thu, 21 May 2009 16:03:08 -0500

2009 Decreasing home inventory nearing six-month supply

$8,000 tax credit encouraging first-time homebuyers to get off sidelines

INDIANAPOLIS – April housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across Central Indiana, while a decrease in available inventory shows steady progress to a more balanced market between buyers and sellers, according to pended sales statistics compiled by F.C. Tucker Company.

Available homes for sale in the nine-county region dropped 16.9 percent in April 2009 with 15,785 homes on the market, 3,211 fewer homes than in April 2008. Three counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 22.8 percent, followed by Madison County with 20.8 percent and Hancock County with 17.6 percent.

Home sales continue to trail last year’s levels. Madison County posted the only increase in pended home sales over April 2008 at 18.5 percent. In April, 2,272 homes have pended, 10.8 percent less than the same time in 2008. The average sales price is down 11.9 percent from April 2008, decreasing from $140,477 to $123,813.

A recent poll of Tucker sales associates showed 62 percent of their customers were first-time buyers prompted by the $8,000 federal tax credit. The first-time homebuyer’s credit includes no repayment and credit recapture on the sale within three years of purchase.

Active Listings -Inventory

County	April 08	April 09	% Change
Boone	579	608	5.0%
Hamilton	3,205	2,912	-9.1%
Hancock	695	573	-17.6%
Hendricks	1,400	1,190	-15.0%
Johnson	1,363	1,314	-3.6%
Madison	1,095	867	-20.8%
Marion	9,610	7,416	-22.8%
Morgan	671	584	-13.0%
Shelby	378	321	-15.1%
TOTAL	18,996	15,785	-16.9%

Pended single-family and condominium home sales

County	April 08	April 09	Month-to-Month % Change	Year-to-date % Change
Boone	75	65	-13.3%	-3.7%
Hamilton	473	423	-10.6%	-17.7%
Hancock	81	65	-19.8%	-19.1%
Hendricks	229	185	-19.2%	-10.4%
Johnson	199	181	-9.0%	-14.9%
Madison	124	147	18.5%	4.9%
Marion	1,243	1,104	-11.2%	-13.8%
Morgan	80	69	-13.8%	-8.4%
Shelby	44	33	-25.0%	-23.1%
TOTAL	2,548	2,272	-10.8%	-13.3%

Active Listings over Time

Month	Active Listings	% Change from Prior Year
Apr-08	18,996	-1.8%
May-08	19,218	-4.1%
Jun-08	19,412	-6.6%
Jul-08	19,335	-7.4%
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	-14.3%
Mar-09	15,562	-15.6%
Apr-09	15,785	-16.9%

Average Sale Price

County	YTD April 08	YTD April 09	% Change
Boone	$257,258	$228,918	-11.0%
Hamilton	$251,156	$211,315	-15.9%
Hancock	$133,863	$119,919	-10.4%
Hendricks	$159,825	$157,129	-1.7%
Johnson	$139,126	$131,270	-5.6%
Madison	$77,645	$61,573	-20.7%
Marion	$99,376	$90,360	-9.1%
Morgan	$130,793	$113,281	-13.4%
Shelby	$94,106	$73,976	-21.4%
Average	$140,477	$123,813	-11.9%

Indianapolis Market Watch for March 2009

Ryan Hart (Sold By Hart!) — Sun, 12 Apr 2009 08:41:54 -0500

2009 Home sales in some areas of Central Indiana on the rise

Five of nine counties show increased sales over March 2008

INDIANAPOLIS – Home sales in Central Indiana are starting to improve in some areas of Central Indiana as the spring home-buying season begins. According to pended sales statistics compiled by F.C. Tucker Company, nearly 2,300 Central Indiana homes pended in March, with five of the nine counties reporting significant increases compared to the same time last year.

Madison County posted the highest pended home sales increase over March 2008 with 33.6 percent, followed by Boone County with 30.5 percent. Other counties showing a rise in sales included Johnson County (14.6 percent), Hancock County (11.7 percent) and Hendricks County(9.9 percent).

“We hope the encouraging March numbers in select areas of central Indiana are an indication the local housing market is gaining momentum, and will continue to improve throughout the year,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “We are seeing more prospective home buyers, especially in the first-time buyer category, come off the sidelines and take a look at the inventory available. We are pleased to see overall Central Indiana inventory declining significantly, a 15.6 percent decrease over last year at this time. Less inventory and increased demand brings better balance and more consumer confidence to the market.”

To date, 5,466 homes have pended in 2009, 14.1 percent less than the same time in 2008. The average sales price is down 12.4 percent from March 2008, decreasing from $140,878 to $123,461.

Available homes for sale in the nine-county region dropped 15.6 percent in March 2009 with 15,562 homes on the market, 2,881 fewer homes than in March 2008. Four counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 21.4 percent, followed by Hendricks County with 19.3 percent, then Madison County and Shelby County with 18.7 percent and 17.6 percent, respectively.

Pended single-family and condominium home sales

County	March 08	March 09	Month-to-Month % Change	Year-to-date % Change
Boone	59	77	30.5%	-1.2%
Hamilton	467	368	-21.2%	-22.4%
Hancock	77	86	11.7%	-18.5%
Hendricks	181	199	9.9%	-6.3%
Johnson	158	181	14.6%	-18.9%
Madison	107	143	33.6%	4.0%
Marion	1,193	1,142	-4.3%	-13.8%
Morgan	71	63	-11.3%	-9.8%
Shelby	49	39	-20.4%	-18.1%
TOTAL	2,362	2,298	-2.7%	-14.1%

Active Listings -Inventory

County	March 08	March 09	% Change
Boone	538	584	8.6%
Hamilton	3,015	2,825	-6.3%
Hancock	648	565	-12.8%
Hendricks	1,394	1,125	-19.3%
Johnson	1,318	1,280	-2.9%
Madison	1,053	856	-18.7%
Marion	9,466	7,441	-21.4%
Morgan	631	573	-9.2%
Shelby	380	313	-17.6%
TOTAL	18,443	15,562	-15.6%

Active Listings over Time

Month	Active Listings	% Change
Mar-08	18,405	-0.9%
Apr-08	18,996	-1.8%
May-08	19,218	-4.1%
Jun-08	19,412	-6.6%
Jul-08	19,335	-7.4%
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	-14.3%
Mar-09	15,562	-15.6%

Average Sale Price

County	YTD March 08	YTD March 09	% Change
Boone	$263,971	$253,528	-4.0%
Hamilton	$253,303	$215,705	-14.8%
Hancock	$135,657	$113,331	-16.5%
Hendricks	$163,556	$155,437	-5.0%
Johnson	$139,716	$130,620	-6.5%
Madison	$75,087	$63,843	-15.0%
Marion	$97,118	$90,164	-7.2%
Morgan	$128,238	$115,003	-10.3%
Shelby	$97,195	$70,240	-27.7%
Average	$140,878	$123,461	-12.4%

Indianapolis Market Watch for February 2009

Ryan Hart (Sold By Hart!) — Thu, 19 Mar 2009 23:26:25 -0500

2009 Two Central Indiana counties report increased sales in February

Available inventory in the nine-county region continues to drop

INDIANAPOLIS – More than 1,600 Central Indiana homes pended in February, with two counties reporting significant increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company. Madison County posted a 14.7 percent increase, and Boone County sales rose 11.4 percent.

February pended home sales in the nine-county area were down 20.6 percent with 1,643 homes pending compared to 2,069 in February 2008. Year to date, overall pended home sales are down 19.6 percent compared to the same timeframe in 2008.

Available homes for sale in the nine-county region dropped 14.3 percent in February 2009 with 15,377 homes on the market, 2,566 fewer homes than in February 2008. Three counties experienced significant inventory declines. Shelby County experienced the greatest decrease in inventory at -23.4 percent, followed by Marion County with -20.4 percent and Hendricks County at -17.2 percent.

“The continual drop in inventory is a good sign for the overall market,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “It’s a strong signal that our local market is strengthening.”

Tucker’s data also indicates that one Central Indiana county – Johnson County – saw an increase in average home prices for the second consecutive month, compared to January and February of last year. Homes in Johnson County sold for an average of $141,208 in February 2009, compared to $135,178 the February 2008, a 4.5 percent increase in the average home sales price.

“Conditions have been improving for home buyers,” said Litten, “Improved affordability, low interest rates and first–time buyer tax credits are catching the attention of buyers who may have otherwise waited on the sidelines.”

Pended single-family and condominium home sales

County	February 08	February 09	Month-to-Month % Change	Year-to-date % Change
Boone	44	49	11.4%	-18.3%
Hamilton	400	294	-26.5%	-24.1%
Hancock	72	52	-27.8%	-30.3%
Hendricks	171	148	-13.5%	-16.8%
Johnson	165	107	-35.2%	-34.1%
Madison	102	117	14.7%	-7.3%
Marion	1,022	800	-21.7%	-17.1%
Morgan	57	46	-19.3%	-8.9%
Shelby	36	30	-16.7%	-23.9%
TOTAL	2,069	1,643	-20.6%	-19.6%

Active Listings -Inventory

County	February 08	February 09	% Change
Boone	517	583	12.8%
Hamilton	2,889	2,728	-5.6%
Hancock	629	579	-7.9%
Hendricks	1,316	1,089	-17.2%
Johnson	1,255	1,246	-0.7%
Madison	1,035	894	-13.6%
Marion	9,305	7,408	-20.4%
Morgan	608	552	-9.2%
Shelby	389	298	-23.4%
TOTAL	17,943	15,377	-14.3%

Active Listings over Time

Month	Active Listings	% Change
Feb-08	18,103	4.7%
Mar-08	18,405	-0.9%
Apr-08	18,996	-1.8%
May-08	19,218	-4.1%
Jun-08	19,412	-6.6%
Jul-08	19,335	-7.4%
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	-14.3%

Average Sale Price

County	YTD February 08	YTD February 09	% Change
Boone	$263,612	$240,047	-8.9%
Hamilton	$253,381	$219,937	-13.2%
Hancock	$141,224	$114,107	-19.2%
Hendricks	$157,869	$147,562	-6.5%
Johnson	$135,178	$141,208	4.5%
Madison	$75,975	$55,928	-26.4%
Marion	$95,360	$85,759	-10.1%
Morgan	$130,830	$113,167	-13.5%
Shelby	$104,335	$56,906	-45.5%
Average	$138,276	$120,880	-12.6%

Indianapolis Market Watch for January 2009

Ryan Hart (Sold By Hart!) — Fri, 06 Mar 2009 09:42:21 -0600

2009 14 percent decrease in homes for sale is good news for homeowners

Buyers and sellers both encouraged by recent changes

INDIANAPOLIS– Available homes for sale in the nine-county region dropped 14.5 percent in January 2009 with 2,613 fewer homes on the market than in January 2008. Total homes available for sale in January were 15,415, according to active listing statistics compiled by F.C. Tucker Company. Hendricks County, Shelby County and Marion County experienced the greatest decrease in inventory, with -22 percent, -20.5 percent and -19.7 percent, respectively. With fewer homes on the market, sellers are in a better position to transition to another home.

First-time home buyers also received good news this week with President Obama’s signing of the American Recovery and Reinvestment Act which includes a revised first-time home buyer’s credit effective for home purchases from Jan. 1, 2009 to Dec. 1, 2009. Differences from the 2008 first-time home buyer’s credit include no repayment and credit recapture on the sale within three years of purchase.

While the average number of pended homes sales in Central Indiana was down 19.2 percent overall in January 2009 compared to the same time last year, one Indianapolis-area county reported higher sales. Morgan County showed improvement over other counties in the nine-county region F.C.Tucker surveys, reporting a 9.1 percent increase in home sales.

This past January, 1,562 homes sold (pended) in Central Indiana. One year ago in January 2008, Central Indiana consumers purchased 1,934 homes. Litten said, “There’s still a great deal of buying activity, but it is still not at the levels we have come to expect.”

“As we move into the busy home-buying and selling season of spring, I expect more first-time home buyers will enter the market to take advantage of the new $8,000 tax credit,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “I’m also hopeful that Central Indiana’s competitive home prices, coupled with efforts by the Federal government to stimulate the economy, will boost consumer confidence and motivate consumers to get off the sidelines.”

Tucker’s just-released data also shows that two Indianapolis areas saw increases in average home prices. Homes in Johnson County sold for an average of $154,239 in January 2009, compared to $136,042 in January 2008, a 13.4 percent increase in the average home sales price. Also, Boone County showed a 3.1 percent increase in home sales price, bringing the average homeprice to $291,058.

As the tax season nears, Litten reminds buyers that there are additional advantages to purchasing a home. “Beyond the mortgage interest and real estate tax exemptions on your tax returns, homeowners may also qualify for residential energy credits of up to 30 percent of the cost for certain home improvements, including equipment and installation for solar electric power, solar water heating, wind energy and more," said Litten.

Active Listings -Inventory

County	January 08	January 09	% Change
Boone	487	577	18.5%
Hamilton	2,850	2,650	-7.0%
Hancock	652	578	-11.3%
Hendricks	1,330	1,037	-22.0%
Johnson	1,260	1,186	-5.9%
Madison	1,015	950	-6.4%
Marion	9,454	7,593	-19.7%
Morgan	600	542	-9.7%
Shelby	380	302	-20.5%
TOTAL	18,028	15,415	-14.5%

Pended single-family and condominium home sales

County	January 08	January 09	% Change	Year-to-date % Change
Boone	65	37	-43.1%	-43.1%
Hamilton	352	267	-24.1%	-24.1%
Hancock	74	47	-36.5%	-36.5%
Hendricks	169	134	-20.7%	-20.7%
Johnson	158	99	-37.3%	-37.3%
Madison	117	93	-20.5%	-20.5%
Marion	913	801	-12.3%	-12.3%
Morgan	55	60	9.1%	9.1%
Shelby	31	24	-22.6%	-22.6%
TOTAL	1,934	1,562	-19.2%	-19.2%

Average Sale Price

County	January 08	January 09	# Change	% Change
Boone	$282,338	$291,058	$8,720	3.1%
Hamilton	$256,890	$220,052	-$36,838	-14.3%
Hancock	$135,580	$96,298	-$39,282	-29.0%
Hendricks	$146,826	$142,187	-$4,639	-3.2%
Johnson	$136,042	$154,239	$18,197	13.4%
Madison	$70,533	$60,624	-$9,909	-14.0%
Marion	$91,021	$81,780	-$9,241	-10.2%
Morgan	$125,315	$123,108	-$2,207	-1.8%
Shelby	$95,719	$63,767	-$31,952	-33.4%
Average	$135,449	$118,438	-$17,011	-12.6%

Indianapolis Market Watch for December 2008

Ryan Hart (Sold By Hart!) — Tue, 20 Jan 2009 17:12:24 -0600

Three Central Indiana counties see increase in home sales

Decreasing housing inventory, stable sales prices assist sellers, but still a buyer’s market

INDIANAPOLIS – While overall home sales remain lower on amonth-to-month and year-to-date basis in Central Indiana,three Indianapolis-area counties reported higher sales in December 2008 thanthe same time in 2007, according to finalized pended sales statistics compiled byF.C. Tucker Company. Hancock, Johnson and Marion counties showed improvementover other counties in the nine-county region F.C. Tucker serves.

Available homes for sale dropped 14.3 percent in December 2008 with 2,605 fewer homes on the market than in December 2007. Total homes available for sale at year-end were 15,600. Marion County and Hendricks County experienced the greatest decrease in inventory at 19.2 percent each.

Current interest rates are hovering around 5 percent for a 30-year, fixed-rate loan, and with the Federal Reserve’s MBS (mortgage-backed securities) buying program in full swing, many experts believe that mortgage rates will stay down for the foreseeable future.

“We continue to be encouraged by the decline in inventory in Central Indiana,”said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “As available inventory declines, we hope to see pricing firm up. Also, as interest rates remain historically low, consumer confidence will continue to grow.”

Homes remained on the market an average of 92 days in December, only a 2.2 percent increase comparing year-to-date figures from 2007 and 2008. Four counties – Hancock, Hendricks, Johnson and Madison – showed a decrease in days on the market, compared to December 2007. Madison County boasted the largest change, shaving off an average of six days on the market.

Madison County also showed a 7.4 percent increase in average home sales price in December 2008, compared to December 2007. Home inventory in the county decreased 7.9 percent over the same time frame. Litten is optimistic the trend will continue into 2009.

Pended single-family and condominium home sales

County	December 07	December 08	% Change	Year-to-date % Change
Boone	42	41	-2.4%	-14.3%
Hamilton	237	225	-5.1%	-11.3%
Hancock	56	58	3.6%	-14.6%
Hendricks	125	92	-26.4%	-7.8%
Johnson	112	118	5.4%	-12.0%
Madison	83	66	-20.5%	-15.7%
Marion	729	746	2.3%	-10.4%
Morgan	40	39	-2.5%	-9.9%
Shelby	28	26	-7.1%	-9.1%
TOTAL	1,452	1,411	-2.8%	-11.0%

Active Listings -Inventory

County	December 07	December 08	% Change
Boone	516	543	5.2%
Hamilton	2,808	2,609	-7.1%
Hancock	644	594	-7.8%
Hendricks	1,336	1,080	-19.2%
Johnson	1,262	1,159	-8.2%
Madison	1,084	998	-7.9%
Marion	9,519	7,695	-19.2%
Morgan	614	562	-8.5%
Shelby	382	320	-16.2%
TOTAL	18,165	15,560	-14.3%

2008 Year End Market Watch

Ryan Hart (Sold By Hart!) — Wed, 07 Jan 2009 20:52:59 -0600

2008 F.C. Tucker market analysis shows reductions in available housing inventory in 2008;

Predicts slight Central Indiana real estate market improvement in 2009

INDIANAPOLIS – Month after month, Central Indiana housing inventory steadily declined during 2008, with November showing a 13 percent drop, or 2,513 fewer homes on the market, compared to the same time last year, according to active listings statistics compiled December 8 by F.C. Tucker Company. Of the nine counties Tucker tracks, Hendricks County showed the largest decrease in inventory at -19.6 percent.

“As the number of homes available reaches a six-month supply in 2009, we will finally see a supply/demand correction of the local housing market,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Our current inventory is less than eight months, so the opportunity for central Indiana real estate to rebound gets closer and closer. Today, it remains a buyers’ market, and with low interest rates, more and more buyers are seriously looking.”

Tucker estimates that nearly 25,000 homes will be pended in the nine-county region by year-end. The average year-to-date sales price remained off 5 percent for the year; in November, the average price for a home was $145,014. Tucker estimates that the 5 percent decrease in the average sales price will track through December. Litten said, “Central Indiana’s housing afford ability index, according to the National Association of Home Builders, is one of the best in the nation, and our afford ability bodes well for an earlier recovery than some areas of the country.”

Of the nine counties, Hendricks County showed the least decline in homes pended in November, with 6.9 percent fewer homes pended compared to the same time last year. Hancock County showed the highest decline in November with 16.4 percent fewer homes pended compared to the same time last year. For this year, home sales are down 11 percent.

“As we reflect on 2008 and the challenges facing our nation, and the Central Indiana real estate market in particular, we can take comfort knowing that economic downturns don’t last forever,” added Litten. “I believe efforts to reform the nation’s lending practices will strengthen consumer confidence in 2009. Moreover, Central Indiana continues to have a strong economic base of business activity and one of the steadiest real estate markets in the nation. I am optimistic that we’ll see improvement in 2009.”

¡ An increase in real estate sales in 2009 over 2008 numbers. According to panelists from Indiana University’s annual business outlook, Indianapolis should see more positive numbers for Indianapolis in the fourth quarter. Our market could rebound more quickly than other U.S.cities, primarily due to our nationally recognized affordability.

Pended single-family and condominium home sales

County	November 07	November 08	% Change	Year-to-date % Change
Boone	61	40	-34.4%	-15.3%
Hamilton	288	240	-16.7%	-11.8%
Hancock	76	57	-25.0%	-16.4%
Hendricks	136	124	-8.8%	-6.9%
Johnson	140	96	-31.4%	-13.0%
Madison	109	86	-21.1%	-15.3%
Marion	827	734	-11.2%	-10.8%
Morgan	66	46	-30.3%	-11.1%
Shelby	34	27	-20.6%	-9.0%
TOTAL	1,737	1,450	-16.5%	-11.4%

Active Listings - Inventory

County	November 07	November 08	% Change
Boone	556	598	7.6%
Hamilton	2,961	2,797	-5.5%
Hancock	679	634	-6.6%
Hendricks	1,435	1,154	-19.6%
Johnson	1,317	1,275	-3.2%
Madison	1,141	1,068	-6.4%
Marion	10,159	8,288	-18.4%
Morgan	653	616	-5.7%
Shelby	404	362	-10.4%
TOTAL	19,305	16,792	-13.0%

Sold By Hart 2009 Market Predictions

Ryan Hart (Sold By Hart!) — Wed, 07 Jan 2009 20:51:45 -0600

An increase in real estate sales in 2009 over 2008 numbers. According to panelists from Indiana University’s annual business outlook, Indianapolis should see more positive numbers for Indianapolis in the fourth quarter. Our market could rebound more quickly than other U.S. cities, primarily due to our nationally recognized affordability.

Housing prices stabilizing at 2008 levels. Even in a year of significant foreclosures from the sub-prime debacle, the average home price in Central Indiana only dipped five percent, compared to some areas in the country such as California, Florida and Nevada that are down more than 20 percent. Because of the current slowdown, there is a tremendous amount of pent-up demand for buyers waiting on the sidelines. Sales are moving for people who need a home, and as prices level off, we will see an equilibrating of supply and demand in the housing market.

Residential real estate inventory declining further until Central Indiana reaches a six-month supply in late 2009. Despite being a buyer’s market, sellers are encouraged because inventory is decreasing – which means less competition.

Interest rates to remain low in 2009. The Federal Reserve cut interest rates nine times in 2008, leaving rates at record lows heading into 2009. Also, contrary to popular belief, banks are still lending money, and there will continue to be unprecedented buying opportunities in Central Indiana through much of 2009.

A new administration in Washington will bring positive change. In January, Americans will welcome a new administration, allowing a fresh start in 2009. President-elect Obama will immediately focus on creating jobs and providing much needed relief for American families. Homeowners can take heart that Obama intends to provide direct, immediate assistance by reforming the bankruptcy code, enacting a 90-day foreclosure moratorium and providing state fiscal relief to aid in property tax increases, among other initiatives.

Home Improvement Value Newsletter

Ryan Hart (Sold By Hart!) — Wed, 07 Jan 2009 20:50:51 -0600

Are You Considering a Major Home Improvement Project in the Near Future ? There are possible considerations when weighing the cost of the project versus the possible value that might be added to your home as a result of making the improvement.

Every year, REALTOR magazine evaluates the potential paybacks that a homeowner might enjoy as a result of a variety of home remodeling projects. In the December 2008 issue of the magazine, there is an assessment of the possible “top” home improvement projects that could possibly improve the marketability and value of a home, based upon several criteria. The assessment is based upon the region of the country where the home is located (Indiana being considered as East North Central), and midrange versus upscale remodeling projects (reflective of the cost range of the project).

The article described the top ten project paybacks as being “replacement projects that boost curb appeal--- siding, windows, and decks”. It also stated “only kitchen remodels can compare, at least on a national basis”. The following details illustrate the findings from REALTOR magazine relative to remodeling projects for decks, siding, windows, and kitchens, as well as other select projects:

Remodel Type Upscale Cost / % Value Retained Midrange Cost / % Value Retained

Composite Deck Addition $37,893 / $20,747 – 54.8% $15,440 / $9,910 – 64.2%

Wood Deck Addition $10,534 / $7,263 – 68.9%

Fiber Cement Siding $12,965 / $10,279 – 79.3%

Vinyl Siding $12,184 / $9,061 - 74.4% $10,398 / $7,591 – 73.0%

Wood Windows $18,276 / $12,127 – 66.4% $12,117 / $8,156 – 67.3%

Vinyl Windows $14,322 / $9,806 – 68.5% $11,077 / $7,429 – 67.1%

Kitchen (Major Remodel) $113,056 / $70,703 – 62.5% $58,253 / $38,726 – 66.5%

Kitchen (Minor Remodel) $21,759 / $15,038 – 69.1%

Roofing $39,144 / $20,594 – 52.6% $20,227 / $11,056 – 54.7%

There are a number of other possible remodeling projects that are discussed and detailed among the statistics provided in REALTOR’S article titled “Remodeling’s Cost vs. Value Report by Hanley Wood LLC. It is always important to understand that there is not only the consideration of possible paybacks on these types of projects, but possibly more important, many of the remodeling projects become imperative for a Seller’s home to be competitive in buyer’s market.

If you are contemplating a remodeling project, please feel free to contact me to discuss the merits of completing the project prior to selling your home in the future. I am always available to help you assess your options and I hope you will not ever hesitate to call me for assistance.

Indianapolis Market Watch for October 2008

Ryan Hart (Sold By Hart!) — Sat, 29 Nov 2008 10:58:37 -0600

2008 Decreasing home inventory still indicative of buyers’ market

INDIANAPOLIS – October housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across Central Indiana, while a decrease in available inventory reduces competition among sellers, according to pended sales statistics compiled by F.C. Tucker Company.

“Contrary to perception,mortgage money is widely available and rates are quite good. Combined with a steady demand for housing, we are seeing the number of homes for sale in Central Indiana continue to drop,” said Donna Kreps, Executive Vice President of Tucker's Residential Real Estate Services Division. “Home buyers are still experiencing unprecedented opportunities throughout Central Indiana.”

Available homes for sale dropped 12.7 percent in October with 17,746 homes on the market, 2,582 fewer homes than in October 2007. Marion County experienced the greatest decrease in inventory at 18.5 percent.

Central Indiana homes are holding their value better than other real estate markets. The average year-to-date sales price for a home in the nine-county area was $145,779, 5.2 percent less than what was reported in October 2007. In comparison, the latest data from the National Association of REALTORS® reported the national average year-to-date sales price was 9 percent lower than the same period last year, as of September 2008.

Of the nine counties, Hancock County was the only one to experience an increase in homes sold in October, with a 23.8 percent increase in sales compared to the same time last year.

The average number of days on the market is 93 days, a 6.9 percent increase comparing year-to-date figures from 2007 and 2008. Hamilton County boasts the shortest amount of time – 83 days– for homes on the market through October 2008.

Pended single-family and condominium home sales

County	October 07	October 08	% Change	Year-to-date % Change
Boone	78	38	-51.3%	-14.4%
Hamilton	398	289	-27.4%	-12.2%
Hancock	63	78	23.8%	-15.2%
Hendricks	154	138	-10.4%	-7.4%
Johnson	164	127	-22.6%	-13.2%
Madison	147	101	-31.3%	-15.1%
Marion	991	974	-1.7%	-10.6%
Morgan	67	61	-9.0%	-10.5%
Shelby	33	32	-3.0%	-7.6%
TOTAL	2,095	1,838	-12.3%	-11.3%

Active Listings -Inventory

County	October 07	October 08	% Change
Boone	603	641	6.3%
Hamilton	3,095	2,993	-3.3%
Hancock	714	676	-5.3%
Hendricks	1,522	1,280	-15.9%
Johnson	1,410	1,321	-6.3%
Madison	1,231	1,108	-10.0%
Marion	10,664	8,694	-18.5%
Morgan	683	651	-4.7%
Shelby	406	382	-5.9%
TOTAL	20,328	17,746	-12.7%

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on November 7, 2008. Pending means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.

Indianapolis Market Watch for September 2008

Ryan Hart (Sold By Hart!) — Sat, 29 Nov 2008 10:57:46 -0600

2008 Six Central Indiana counties report increased sales in September

Year-to-date sales still down compared to 2007

INDIANAPOLIS – Indiana continues to ride the real estate tide, as indicated by an increase in home sales in several more central Indiana counties in September, while maintaining an overall year-to-date decline compared to the same period in 2007, according to pended sales statistics compiled by F.C. Tucker Company. In last month’s Tucker report, two counties saw an increase in sales on a year-to-date comparison. Another bright spot in the central Indiana real estate market is the continued shrinking inventory of homes on the market in the nine-county region, offering a ray of hope to current sellers.

Boone County is the strongest market with an impressive 41.9 percent increase in sales of single family homes and condominiums last month compared to a year ago. Following Boone are Shelby County with a growth of 15.0 percent, Morgan with a 12.3 percent growth, Johnson increasing by 7.9 percent and Hamilton and Marion county home sales growing by 2.5 percent and 2.0 percent, respectively.

Although September showed signs of improvement and stayed nearly the same as last year, dipping only 0.1 percent below September 2007, year-to-date sales figures remain off an average of 11.1 percent in the central Indiana market.

“In these difficult economic times, your home continues to be the strongest, most lasting investment,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “The residential real estate market is still on the recovery road from this current downturn. We are making progress, and, as we have in the past, Indiana’s real estate market will recover stronger and more resilient than ever.”

Hamilton County boasts the shortest amount of time – 83 days – for homes to be on the market through September 2008. The average number of days for a home to be on the market in the regionis 93 days, a 6.9 percent increase comparing year-to-date figures from 2007 and 2008. Hancock County data shows the smallest increase in days on the market compared to last year with a change from 90 to 92 days, according to F.C. Tucker data.

Fewer homes continue to go onthe market which means more families are staying in central Indiana and fewer families are waiting for their home to sell. In September, there were approximately 18,393 active listings of single family homes and condominiums. Last year at this time, there were 20,943 homes on the market in the nine-county central Indiana region.

The nine-county average sales price was $146,247, which is 5.2 percent lower compared to the same time last year. Madison County showed the least decrease in sales price with a change of -1.8 percent compared to year-to-date figures from 2007.

Pended single-family and condominium home sales

County	September 07	September 08	% Change	Year-to-date % Change
Boone	43	61	41.9%	-10.1%
Hamilton	355	364	2.5%	-11.1%
Hancock	81	66	-18.5%	-18.1%
Hendricks	182	154	-15.4%	-7.1%
Johnson	140	151	7.9%	-12.3%
Madison	140	114	-18.6%	-12.6%
Marion	960	979	2.0%	-11.0%
Morgan	65	73	12.3%	-11.0%
Shelby	40	46	15.0%	-8.0%
TOTAL	2,006	2,008	0.1%	-11.1%

Active Listings -Inventory

County	September 07	September 08	% Change
Boone	628	640	1.9%
Hamilton	3,219	3,066	-4.8%
Hancock	730	687	-5.9%
Hendricks	1,578	1,348	-14.6%
Johnson	1,458	1,366	-6.3%
Madison	1,259	1,118	-11.2%
Marion	10,997	9,133	-17.0%
Morgan	682	644	-5.6%
Shelby	392	391	-0.3%
TOTAL	20,943	18,393	-12.2%

# # #

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Property linxstatistics on October 7, 2008. Pending means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.

Indianapolis Market Watch for August 2008

Ryan Hart (Sold By Hart!) — Tue, 16 Sep 2008 12:58:51 -0500

2008 Central Indiana real estate market outperforms other regions of U.S.

August statistics point to areas with improved sales, overall shrinking inventory of homes for sale

INDIANAPOLIS – The Midwest continues to outperform other regions of the country, such as the Northeast and West, beleaguered by real estate challenges. Pending home sales in the Midwest showed a gain of 2.8 percent in July compared to the prior year, according to the latest data from National Association of REALTORS®. The gain is a sharp contrast to other regions of the U.S., which are reporting declines between 7.5 percent and 10.6 percent.

The strongest central Indiana markets are Madison and Shelby counties, both of which reported strong sales in August compared to the same time last year, according to pended sales statistics compiled by F.C. Tucker Company. The number of homes sold in Hendricks County last month was nearly identical to August 2007.

Madison County showed a second month of increased sales, with 132 homes sold for a 10.9 percent increase over the same period last year.

The shrinking housing inventory in the nine-county area is helping sellers by increasing demand, while buyers are enticed by mortgage rates hovering below 6 percent. In August, 18,828 homes were on the market – a nearly 11 percent drop – from 21,127 homes available in August 2007. Madison and Marion counties’ inventory declined more than 15 percent.

The nine-county average sales price was $147,018, which is 5 percent lower compared to the same time last year. However, three counties, Boone, Madison and Shelby, all reported an increased average sales price, up to 5.2 percent higher.

“We are beginning to see more buyers in some areas of central Indiana and we’re hopeful more will follow,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “They are showing us what we’ve known all along – Indiana is a great place to live, and now is a great time to buy.”

Pended single-family and condominium home sales

County	August 07	August 08	% Change	Year-to-date % Change
Boone	87	65	-25.3%	-15.0%
Hamilton	456	410	-10.1%	-12.7%
Hancock	74	66	-10.8%	-17.9%
Hendricks	194	193	-0.5%	-7.1%
Johnson	186	138	-25.8%	-14.7%
Madison	119	132	10.9%	-11.3%
Marion	1,151	1,096	-4.8%	-12.2%
Morgan	82	80	-2.4%	-14.4%
Shelby	52	57	9.6%	-10.2%
TOTAL	2,401	2,237	-6.8%	-12.3%

Active Listings -Inventory

County	August 07	August 08	% Change
Boone	610	622	2.0%
Hamilton	3,295	3,163	-4.0%
Hancock	738	727	-1.5%
Hendricks	1,580	1,403	-11.2%
Johnson	1,442	1,373	-4.8%
Madison	1,323	1,113	-15.9%
Marion	11,052	9,379	-15.1%
Morgan	677	661	-2.4%
Shelby	410	387	-5.6%
TOTAL	21,127	18,828	-10.9%

# # #

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on September 8, 2008. Pending means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.

Indianapolis Market Watch for July 2008

Ryan Hart (Sold By Hart!) — Sun, 17 Aug 2008 16:06:19 -0500

Decreasing housing inventory and stable sales prices assist sellers, but still a buyers market

INDIANAPOLIS – While overall pended home sales remain lower on a month-to-month and year-to-date basis in central Indiana, two Indianapolis-area counties reported higher sales than the same time last year, according to pended sales statistics compiled by F.C. Tucker Company.

Both Madison and Boone counties showed increased sales in July. Madison County sold 171 homes this month, for an 11.8 percent increase, while Boone County sold 89 homes for a 6 percent sales increase compared to the same time last year.

Housing inventory in central Indiana continued to drop in July with 19,335 homes on the market in the nine-county region, 1,534 fewer homes than in July 2007 – a 7.4 percent decrease overall in inventory. Madison County’s inventory led the monthly decline with a 12.4 percent decline. Marion County’s inventory also declined in double digits with a 10.7 decrease this month.

The nine-county average sales price was $146,572, overall 5 percent lower compared to the same time last year. However, two counties, Boone and Hamilton, are within one percent of the same average sales price as last year, and three other counties, Madison, Morgan and Shelby, are within two percent of the average sales price from the same time last year.

“While the central Indiana real estate market continues to stabilize and even improve in a couple of submarkets, home buyers are still in a good position to find an affordably priced house throughout the Indianapolis area,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division.“Sellers, too, should be encouraged by the fact that central Indiana homes are maintaining their value, and buyers are paying on average 95 percent of the sellers’ asking prices in central Indiana.”

Overall, home sales in the nine-county area are down 8.9 percent compared to July 2007, and 13.1 percent for the year to date.

Litten said, “The recent passage of the housing stimulus bill should help with our real estate market recovery and greatly benefit first-time home buyers with the $7,500 tax credit.”

The National Association of REALTORS® (NAR) predicts 2.5 million first-time buyers in the market because of the tax credit, which could increase home sales nationally by 7 percent.

Pended single-family and condominium home sales

County	July 07	July 08	% Change	Year-to-date % Change
Boone	84	89	6.0%	-13.3%
Hamilton	520	447	-14.0%	-13.5%
Hancock	108	75	-30.6%	-18.3%
Hendricks	204	182	-10.8%	-8.3%
Johnson	200	146	-27.0%	-14.4%
Madison	153	171	11.8%	-13.1%
Marion	1,148	1,096	-4.5%	-12.9%
Morgan	95	86	-9.5%	-16.5%
Shelby	52	44	-15.4%	-12.5%
TOTAL	2,564	2,336	-8.9%	-13.1%

Active Listings - Inventory

County	July 07	July 08	% Change
Boone	620	641	3.4%
Hamilton	3,305	3,269	-1.1%
Hancock	726	725	-0.1%
Hendricks	1,563	1,438	-8.0%
Johnson	1,431	1,400	-2.2%
Madison	1,286	1,127	-12.4%
Marion	10,832	9,678	-10.7%
Morgan	683	667	-2.3%
Shelby	423	390	-7.8%
TOTAL	20,869	19,335	-7.4%

# # #

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on August 8, 2008. Pending means the sales contract has been signed,but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.

Indianapolis Market Watch for June 2008

Ryan Hart (Sold By Hart!) — Wed, 30 Jul 2008 18:13:33 -0500

2008 Central Indiana housing market continues to outperform national averages

Low prices contribute to sustained buyers’ market

INDIANAPOLIS – June housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across the nine-county central Indiana region, while a decrease in available inventory reduces competition among sellers, according to pended sales statistics compiled by F.C. Tucker Company.

Bucking the national trend of record housing inventory levels, available local inventory dropped 6.6 percent in June with 19,412 homes on the market, 1,376 fewer homes than in June 2007. Boone and Hamilton counties, however, reported a slight increase in the number of homes available.

“While the market begins to correct itself, central Indiana home buyers are in a good position to find a house in their price range,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “The average sales price is 5.1 percent lower for the first half of 2008 compared to the same period in 2007, with Morgan County being the only area to show a slight increase in average sales price.”

The average year-to-date sales price for a home in the nine-county area was $144,733, 5.1 percent less than what was reported in the first six months of 2007. The latest data from the National Association of REALTORS® (NAR) reported the national average year-to-date sales price was 8 percent lower than the same period last year, as of April 2008.

With the current sales pace, Indianapolis also leads national absorption rate with an approximately 8.5-month supply of homes for sale as of June, versus the NAR national average of 10.8 months, using the organization’s latest figures from May 2008.

June pended home sales in the nine-county area were down 18.3 percent compared to June 2007 with 2,296 homes pending. Pended sales during the first half of the year are down 13.9 percent compared to the same time period in 2007. So far this year, 13,719 pended home sales have been posted; 15,935 homes were pending during the first half of 2007.

The NAR predicts improved sales in the second half of this year due to better lending practices, an improving economy and a pending home buyer tax credit which could draw potential buyers back into the marketplace. “With Central Indiana ranking high on the affordability index and national ‘best places to live’ polls, we anticipate a brighter outlook going into 2009,” Litten said.

Pended single-family and condominium home sales

County	June 07	June 08	% Change	Year-to-date % Change
Boone	82	58	-29.3%	-17.8%
Hamilton	557	433	-22.3%	-14.9%
Hancock	98	91	-7.1%	-15.2%
Hendricks	222	223	0.5%	-8.7%
Johnson	204	163	-20.1%	-13.3%
Madison	156	131	-16.0%	-16.7%
Marion	1,368	1,094	-20.0%	-13.8%
Morgan	81	68	-16.0%	-17.0%
Shelby	44	35	-20.5%	-10.1%
TOTAL	2,812	2,296	-18.3%	-13.9%

Active Listings - Inventory

County	June 07	June 08	% Change
Boone	615	646	5.0%
Hamilton	3,313	3,352	1.2%
Hancock	741	698	-5.8%
Hendricks	1,534	1,404	-8.5%
Johnson	1,446	1,387	-4.1%
Madison	1,279	1,170	-8.5%
Marion	10,726	9,715	-9.4%
Morgan	710	671	-5.5%
Shelby	424	369	-13.0%
TOTAL	20,788	19,412	-6.6%

# # #

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on July 7, 2008. Pending means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.

Indianapolis Market Watch for May 2008

Ryan Hart (Sold By Hart!) — Mon, 16 Jun 2008 18:32:35 -0500

2008 Several counties show improvement in sales price

Available inventory in the region continues to drop

INDIANAPOLIS – While overall pended home sales continued to fall in May, several counties in central Indiana reported strong activity with improved average sales prices and a drop in the number of homes on the market year-to-date, compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company.

Available inventory dropped 4.1 percent in May with 19,218 homes on the market, 817 fewer homes than in May 2007. Hamilton and Johnson counties, however, reported a slight increase in the number of homes available.

“We continue to be encouraged by the decline in inventory in central Indiana,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division.“As available inventory declines to more historic levels of five to six months’ supply, we’ll see pricing firm up even more.”

May pended home sales in the nine-county area were down 15.4 percent compared to May 2007 with 2,557 homes pending. Pended sales during the first five months of the year are down 12.6 percent compared to the same time period in 2007. So far this year, 11,474 pended home sales have been posted; 13,125 homes were pending during the first five months of 2007.

Shelby County continues to be the only county in the nine-county region to show an increase in pended sales, up 4.3 percent compared to May 2007. New jobs in the area have boosted this community’s results during the busiest home-buying season of the year.

Despite the slow pace of pended sales, five counties in central Indiana revealed an improved average sales price, and three counties showed a lower average number of days on the market for the first five months of 2008, compared to the same time period last year. Overall, the nine-county region showed a year-to-date decrease in the average sales price of homes and an increase in the number of days on the market.

Boone, Hamilton, Hendricks, Madison and Morgan counties all reported an increase in average sales price fort he first five months of this year, with Hendricks County posting the largest increase – 9.1 percent – since the beginning of the year. The average price of a Hendricks County home was $177,618. Hancock, Hendricks and Morgan homes were on the market for fewer days year-to-date compared to last year.

The average year-to-date sales price for a home in the nine-county area was $144,680, 3.3 percent less than what was reported in the first five months of 2007. However, the average sales price for a home in May 2008 vs. May 2007 has risen 2.8 percent, to $159,504.

The National Association of REALTORS® expected unprecedented home price declines in the first half of the year, and many markets can anticipate stabilizing price trends in the second half before rising more than 4 percent next year. “We believe central Indiana will be one of the first markets to emerge from the downward price trend,” Litten said.

Pended single-family and condominium home sales

County	May 07	May 08	% Change	Year-to-date % Change
Boone	77	68	-11.7%	-15.0%
Hamilton	599	503	-16.0%	-14.1%
Hancock	104	69	-33.7%	-17.4%
Hendricks	270	229	-15.2%	-10.6%
Johnson	239	181	-24.3%	-12.7%
Madison	165	130	-21.2%	-15.6%
Marion	1,418	1,263	-10.9%	-11.5%
Morgan	103	66	-35.9%	-17.2%
Shelby	46	48	4.3%	-5.4%
TOTAL	3,021	2,557	-15.4%	-12.6%

Active Listings - Inventory

County	May 07	May 08	% Change
Boone	621	617	-0.6%
Hamilton	3,187	3,269	2.6%
Hancock	744	714	-4.0%
Hendricks	1,480	1,422	-3.9%
Johnson	1,409	1,426	1.2%
Madison	1,238	1,158	-6.5%
Marion	10,266	9,579	-6.7%
Morgan	687	670	-2.5%
Shelby	403	363	-9.9%
TOTAL	20,035	19,218	-4.1%

# # #

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on June 9, 2008.

Indianapolis Market Watch for April 2008

Ryan Hart (Sold By Hart!) — Thu, 15 May 2008 16:48:49 -0500

2008 Inventory of homes on the market show decline

Sales continue at slower pace

INDIANAPOLIS– While home buying during the spring season is somewhat behind last April, the inventory of homes for sale in central Indiana continues to decline reflecting less new home building and continued “wait on the sidelines” home sellers, according to pended sales statistics compiled by F.C. Tucker Company.

April pended home sales in the nine-county area were down 14.1 percent compared to April 2007 with 2,520 homes sales pending. Pended sales during the first four months of the year are down a total of 11.7 percent compared to the same time period in 2007. Overall, 8,926 pended home sales have been posted; 10,110 homes were pending during the first four months of 2007.

The average year-to-date sales price for a home is $139,629, 5.4 percent less than what was reported in April 2007.

Available homes for sale inventory dropped 1.8 percent in April with 18,996 homes on the market, 354 fewer homes than in April 2007. Madison County experienced the greatest decrease in inventory at 9.3 percent.

“The continual drop in inventory is a good sign for the overall market,” said H.James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “It’s a strong signal that our local market is continuing the process of balancing out demand and supply.

“The decline in inventory, along with fewer new homes under construction and solid mortgage rates, will help in our recovery. Despite April figures, we are seeing a decent number of prospective buyers attending open houses and showing interest in the many homes on the market. These are indications that the central Indiana housing market is showing progress.”

Of the nine counties F.C. Tucker tracks, Shelby County was the only one to experience an increase in pended sales compared to April 2007. The rise in sales is due, in part, to the thriving employment and construction at Indiana Downs in Shelbyville and the Honda Plant in nearby Greensburg.

“This area of the state will certainly experience continuous growth in home sales over the next few years,” said Steve Allen, principal broker and owner, F.C.Tucker, Shelby & Decatur Counties.

Pended single-family and condominium home sales

County	April 07	April 08	% Change	Year-to-date % Change
Boone	80	72	-10.0%	-17.2%
Hamilton	572	428	-25.2%	-14.8%
Hancock	97	79	-18.6%	-12.2%
Hendricks	245	214	-12.7%	-11.1%
Johnson	207	197	-4.8%	-8.4%
Madison	154	137	-11.0%	-10.5%
Marion	1,446	1,261	-12.8%	-11.3%
Morgan	93	80	-14.0%	-9.6%
Shelby	40	52	30.0%	-4.5%
TOTAL	2,934	2,520	-14.1%	-11.7%

Active listings

County	April 07	April 08	% Change
Boone	557	579	3.9%
Hamilton	3,079	3,205	4.1%
Hancock	701	695	-0.9%
Hendricks	1,429	1,400	-2.0%
Johnson	1,408	1,363	-3.2%
Madison	1,207	1,095	-9.3%
Marion	9,927	9,610	-3.2%
Morgan	655	671	2.4%
Shelby	387	378	-2.3%
TOTAL	19,350	18,996	-1.8%

# # #

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on May 8, 2008.

Indianapolis Market Watch for March 2008

Ryan Hart (Sold By Hart!) — Sun, 13 Apr 2008 10:35:47 -0500

2008 Spring home sales off to slow start

Available inventory down slightly

INDIANAPOLIS – As the spring home buying season begins, pended sales in the nine-county region slipped in March while available inventory showed a slight decline for the first time this year, according to pended sales statistics compiled by F.C. Tucker Company.

March pended home sales were down 14.7 percent with 2,419 homes pending compared to 2,836 in March 2007. So far this year, overall pended home sales are down 10.1 percent from March 2007. Available inventory in March was 18,405, which is 158 fewer homes available than in March 2007.

“While the drop in pended home sales in March is higher than we anticipated based on February’s encouraging numbers, available inventory appears to be starting to balance out,” said Donna Kreps, executive vice president for F.C. Tucker Company’s Residential Real Estate Services. “Going into the spring/summer home buying season, we anticipate a sales spike as homeowners get back into the market, which continues to offer an excellent array of homes at affordable prices.”

The average sales price for a home in March was $140,098, 2.8 percent less than March 2007. Average days on market increased from 91 days in March 2007 to 106 days in March 2008.

By county, pended home sales in Hancock County was 31.6 percent less than in March 2007. Pended home sales in Morgan and Shelby counties were down 5.3 percent while sales in Hamilton and Marion Counties were down 21.2 percent and 9.6 percent respectively.

Pended single-family and condominium home sales

County	March 07	March 08	% Change
Boone	82	61	-25.6%
Hamilton	553	436	-21.2%
Hancock	114	78	-31.6%
Hendricks	217	178	-18.0%
Johnson	203	156	-23.2%
Madison	146	129	-11.6%
Marion	1,388	1,255	-9.6%
Morgan	76	72	-5.3%
Shelby	57	54	-5.3%
TOTAL	2,836	2,419	-14.7%

Active listings

County	March 07	March 08	% Change
Boone	527	547	3.8%
Hamilton	2,899	3,021	4.2%
Hancock	642	661	3.0%
Hendricks	1,345	1,385	3.0%
Johnson	1,356	1,303	-3.9%
Madison	1,157	1,068	-7.7%
Marion	9,642	9,418	-2.3%
Morgan	636	625	-1.7%
Shelby	359	377	5.0%
TOTAL	18,563	18,405	-0.9%

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on April 8, 2008.

Indianapolis Market Watch for February 2008

Ryan Hart (Sold By Hart!) — Thu, 20 Mar 2008 15:13:58 -0500

2008 Home sales on the rise

Five of nine counties show increased sales over 2007

INDIANAPOLIS – Home sales in Central Indiana are starting to improve as the spring home-buying season begins. February pended sales were up 0.9 percent compared to February 2007, according to pended sales statistics compiled by F.C. Tucker Company.

Overall, 2,132 homes were sold in February 2008 compared to 2,113 in February 2007. It is the first time since April 2007 that pended sales have shown positive growth, which could indicate that the local housing market is starting to rebound.

Along with an increase in total February sales, five of the nine counties in the Indianapolis area posted an increase over February 2007. Hancock County reported 25 more homes pending than in February 2007, a 46.3 percent increase. Pended sales in Shelby County jumped 21.9 percent compared to February 2007. Morgan County pended home sales increased 19.6 percent.

To date, 4,079 homes have been closed or are pending, 6.1 percent less than the same time in 2007. The average sales price is down 4.1 percent from February 2007, decreasing from $143,174 to $137,363. Homes stayed on the market an average of 108 days, an increase from 92 days in February 2007.

“We hope February’s encouraging numbers are an indication that the local housing market is starting to turn around,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “We’ll continue to review sales activity over the next few months to determine if this is a positive trend and if we are starting to gain momentum toward stronger sales in 2008.

“Presently, we are encouraged to see more prospective home buyers come off the sidelines and take a look at the inventory available. It shows that consumer confidence is improving.”

Inventory is up 4.7 percent compared to February 2007. Litten said, “This may be an indication that more home sellers are entering the market in hopes of a strong spring-buying season.”

Pended single-family and condominium home sales

County	Feb 07	Feb 08	% Change
Boone	53	43	-18.9%
Hamilton	390	383	-1.8%
Hancock	54	79	46.3%
Hendricks	176	167	-5.1%
Johnson	158	159	0.6%
Madison	128	114	-10.9%
Marion	1,071	1,087	1.5%
Morgan	51	61	19.6%
Shelby	32	39	21.9%
TOTAL	2,113	2,132	0.9%

Active listings

County	Feb 07	Feb 08	% Change
Boone	487	514	5.5%
Hamilton	2,705	2,932	8.4%
Hancock	636	640	0.6%
Hendricks	1,252	1,357	8.4%
Johnson	1,243	1,253	0.8%
Madison	1,102	1,049	-4.8%
Marion	8,948	9,362	4.6%
Morgan	576	614	6.6%
Shelby	349	382	9.5%
TOTAL	17,298	18,103	4.7%

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on Mar. 7, 2008.

Indianapolis Market Watch for January 2008

Ryan Hart (Sold By Hart!) — Wed, 13 Feb 2008 16:19:43 -0600

2008 Home sales off to moderate start

One county shows increase over January ’07 figures

INDIANAPOLIS – Home sales in Central Indiana are off to a moderate start with 1,962 homes sold in January, down 12.2 percent from the 2,235 homes pended in January 2007, according to pended sales statistics compiled by the F.C. Tucker Company.

Of the nine counties in the Indianapolis area, Madison County experienced the only increase over January 2007 with a 9.6 percent spike in home sales. Home sales in Shelby County dropped 35.4 percent compared to January 2007.

The average sales price for a home in January was $133,671, 4.9 percent less than the average sales price of $140,485 in January 2007. Homes spent an average of 97 days on the market, three days more than January 2007.

Madison County’s inventory also decreased 13.4 percent compared to January 2007. Inventory in Hamilton County was up 5.7 percent, the most significant increase in the nine-county region.

Despite the slow start in 2008, home sales are likely to improve by mid-year as consumer confidence increases due to lower mortgage rates, less housing inventory and moves by the Federal government to stimulate the economy, said H. James Litten, President of F.C. Tucker Company’s Residential Real Estate Services Division.

“We are still experiencing a real estate market on the mend, but the situation should correct itself later in the year as more home buyers come off the sidelines. And they should,” Litten said. “With each passing month of moderate real estate sales activity, there is more and more pent-up demand from prospective home buyers waiting for the right moment. When that moment comes, the real estate market may well roar back to life. So buyers who have the financing are making their moves early.”

Pended single-family and condominium home sales

County	Jan-07	Jan-08	% Change
Boone	75	69	-8.0%
Hamilton	386	360	-6.7%
Hancock	78	74	-5.1%
Hendricks	190	167	-12.1%
Johnson	160	143	-10.6%
Madison	114	125	9.6%
Marion	1,112	938	-15.6%
Morgan	72	55	-23.6%
Shelby	48	31	-35.4%
TOTAL	2,235	1,962	-12.2%

Active listings

County	Jan-07	Jan-08	% Change
Boone	495	497	0.4%
Hamilton	2,680	2,834	5.7%
Hancock	623	649	4.2%
Hendricks	1,278	1,326	3.8%
Johnson	1,284	1,263	-1.6%
Madison	1,149	995	-13.4%
Marion	9,059	9,407	3.8%
Morgan	601	592	-1.5%
Shelby	369	383	3.8%
TOTAL	17,538	17,946	2.3%

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on Feb. 7, 2008.

Indianapolis Market Watch for Year of 2007

Ryan Hart (Sold By Hart!) — Fri, 18 Jan 2008 10:16:13 -0600

Central Indiana home sales stabilize in 2007

Local housing market shows signs of growth in New Year

INDIANAPOLIS – While most large cities experienced a significant decline in home sales in 2007, central Indiana posted its fifth best year on record. Although overall figures are down 9.9 percent from 2006, residents in the nine-county region closed on more than 27,900 homes in 2007.

Central Indiana’s steady job market along with a slow down in new home construction and lower mortgage rates are indicators that local home sales are on track to strengthen in 2008. Bolstering the outlook are several national surveys and reports from sources such as PMI Mortgage Insurance and Global Insight that rank Indianapolis as stable and positioned to see an early strengthening of the local real estate market in 2008.

According to the latest forecast by the National Association of REALTORS®, nationally existing-homes sales are expected to hold fairly steady in early 2008 and then rise later in the year, continuing to improve in 2009.

“The Indianapolis area continues to have a flourishing economy with great affordability, improving our chances for increased home sales in 2008," said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Our local market was challenged in 2007 by a number of economic factors that affected consumer confidence, but I believe the worst may be over and, barring an economic downturn, residential real estate in the area should show signs of improvement by mid-year.”

Marion County experienced the most significant drop in home sales compared with 2006, down 11.5 percent. Although no county saw an increase in home sales in 2007, Boone County had the least decline with 0.9 percent compared with 2006.

Number of Homes Sold

County	2006 Total	2007 Total	# Change	% Change
Boone	860	852	-8	-0.9%
Hamilton	5,862	5,262	-600	-10.2%
Hancock	996	983	-13	-1.3%
Hendricks	2,573	2,285	-288	-11.2%
Johnson	2,240	2,082	-158	-7.1%
Madison	1,697	1,589	-108	-6.4%
Marion	15,306	13,551	-1755	-11.5%
Morgan	991	884	-107	-10.8%
Shelby	540	502	-38	-7.0%
TOTAL*	31,065	27,990	-3075	-9.9%

*This is an average of all activity in the nine-county area, not an average of the other nine averages.

Average sale prices at year’s end in the Indianapolis area dropped 2.1 percent from 2006 to an average of $153,270.

Morgan County experienced the greatest increase in average sales price, up 0.3 percent. Sales prices in six of the remaining eight counties were within one percent of balancing out. Marion County experienced the most significant decrease in sales price, dropping 5 percent to $116,727. Hamilton County maintained the highest average price among the nine counties at $255,822.

Average Sales Price

County	2006 Total	2007 Total	$ Change	% Change
Boone	$258,135	$252,067	-$6,068	-2.4%
Hamilton	$256,641	$255,822	-$819	-0.3%
Hancock	$150,541	$149,279	-$1,262	-0.8%
Hendricks	$166,593	$165,364	-$1,229	-0.7%
Johnson	$152,974	$152,790	-$184	-0.1%
Madison	$83,060	$82,735	-$325	-0.4%
Marion	$122,819	$116,727	-$6,092	-5.0%
Morgan	$137,204	$137,663	$459	0.3%
Shelby	$108,178	$107,786	-$392	-0.4%
Overall*	$156,540	$153,270	-$3,270	-2.1%

*This is an average of all activity in the nine-county area, not an average of the other nine averages.

Homes spent an average of 89 days on the market, six days more than 2006. While most homes in the nine-county area remained on the market for more than 90 days, Hamilton County posted the least amount of days with 81. Madison County homes were on the market the longest with 106, two days more than 2006. Other counties with more than 90 days included Boone (91), Morgan (94) and Shelby (97). At 95, Hancock County’s average did not change.

Days on Market

County	2006 Total	2007 Total	# Change
Boone	88	91	3
Hamilton	76	81	5
Hancock	95	95	0
Hendricks	82	88	6
Johnson	80	90	10
Madison	104	106	2
Marion	82	89	7
Morgan	95	94	-1
Shelby	92	97	5
Overall*	83	89	6

*This is an average of all activity in the nine-county area, not an average of the other nine averages.

Residential real estate predictions for 2008

Jim Litten offers the following outlook for this year:

We will see an early strengthening of the local real estate market in 2008 and a 1-2 percent increase in real estate sales in 2008 over 2007 numbers. While most large cities experienced a significant decline in home sales in 2007, central Indiana fared much better than some of its national counterparts, posting its fifth best year on record. Our market should rebound more quickly than other U.S. cities, primarily due to our nationally-recognized affordable housing market. While we still face challenges resulting from last year’s inventory and mortgage crisis, recent surveys and reports from national groups such as PMI Mortgage Insurance and Global Insight rank Indianapolis as stable and positioned to see a strengthening real estate market in 2008, further backing this prediction.

Even in a year of significant foreclosures from the sub-prime debacle, the average sales price in central Indiana remained close to stable, decreasing 2.1 percent to an average of $153,270. This decline is not significant and reflects a market that is holding its value. Similar to other markets, the average sales price for a home in 2008 will fluctuate depending on where that home is located in central Indiana. Some counties have more inventory than others; some counties have more demand than others. The average sales price will rise or fall depending on location and demand. The local economy will also drive average sales prices as new companies develop or expand in area counties.

Residential real estate inventory in 2008 will continue to decline, a trend that presents optimism for a balancing market in 2008. As new home production continues to taper off as it did in 2007, we will see a downward shift in available inventory, and that’s good news for sellers and the market. The year 2007 saw a decrease in new home construction, due to increased inventory, more buyer ambivalence and rising new home construction costs. We expect builders to continue reducing new home construction, while unloading their current supply of available homes.

By the end of 2007, 30-year fixed mortgage rates in the Indianapolis market were at 6 percent and the Federal Reserve’s talk of a recession signals greater cuts are expected. This could benefit potential home buyers and those with adjustable-rate mortgages expected to reset in 2008. Interest rates will continue to be watched closely, particularly during the first two quarters of the year as the nation seeks to avoid an economic downturn of any significance. As a result, mortgage rates should go back and forth in percentage points, hovering around 6 percent. While this is not ideal, the bright spot is that Indiana is expected to come out of the foreclosure and mortgage crisis faster than other cities.

An encouraging economic indicator, while slight, this year is the anticipation of a growing job market, which according to experts is expected to rise 1.6 percent this year. With a prediction of wage growth up 3.8 percent, our economy is expected to remain healthy in comparison to other Midwest states. More companies are coming into the area, particularly in areas like Hamilton County, creating more jobs and income in the local market. All of these improving factors will help improve home sales in the Indianapolis area. Increased business development also signifies a rise in corporate relocations as companies search worldwide to find the most talented employees.

With the inventory that is available, this could possibly cause a surge of new investors entering the market seeking to strike on a great deal before housing costs start rising again. This is a great time to invest in a home if you’re willing to hold on to the property as the local market continues to balance out. We expect to see more investors entering the residential real estate market in 2008.

Indianapolis Market Watch for November 2007

Ryan Hart (Sold By Hart!) — Sat, 15 Dec 2007 12:28:23 -0600

November home sales slower than last year,

F.C. Tucker optimistic about local real estate market in 2008

INDIANAPOLIS– Central Indiana’s unpredictable weather and Thanksgiving preparations put another damper on home buying in central Indiana, continuing the 2007 real estate market’s balancing of inventory and consumer demand. November pended home sales were off 15 percent from November 2006. Year-to-date sales statistics show a more promising local picture, with 26,801 homes sold so far in 2007, compared to 29,156 homes sold at this same time in 2006, an 8.1 percent overall decrease.

H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division, said, “With almost 27,000 homes sold in central Indiana so far this year, we remain encouraged by the market’s resilience in the face of increased inventory levels and consumer concerns about housing. Central Indiana is experiencing less of a hit than other major cities across the country, and Indianapolis real estate sales are continuing to balance the number of homes on the market with ongoing consumer demand for those homes.”

Sales in Hancock County experienced the most improvement in November with a 10 percent jump in sales over November 2006 and a 1.3 percent increase year-to-date. November pended home sales in Boone County were off slightly from the previous year by 1.6 percent. Year-to-date sales for Boone County are off less than one percent from 2006 YTD. By comparison, Hendricks County posted the most significant drop in pended home sales in November with a 21.6 percent decrease over November 2006.

“Sales this year are the fifth best on record,” Litten said. “Central Indiana’s continued market affordability, one of the best in the country; less new home building than we have experienced in the recent past; and declining mortgage rates promise to strengthen the market in coming months.”

Overall inventory of homes on the market increased 4.4 percent. On a county-by-county level, Madison County’s inventory decreased 11.6 percent in November from 1,279 homes in November 2006 to 1,131 homes in November 2007, and Johnson County was just shy of balancing out at plus .7 percent ahead of last year’s available inventory. Marion County’s inventory rose 7.4 percent.

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx II statistics on Dec. 10, 2007.

Pended single-family and condominium home sales

County	Nov. 06	Nov. 07	% Change	2006 YTD	2007 YTD	% Change
Boone	63	62	-1.6%	807	800	-0.9%
Hamilton	347	289	-16.7%	5,524	5,014	-9.2%
Hancock	64	71	10.9%	930	942	1.3%
Hendricks	162	127	-21.6%	2,428	2,170	-10.6%
Johnson	148	133	-10.1%	2,121	2,003	-5.6%
Madison	119	114	-4.2%	1,612	1,545	-4.2%
Marion	1,034	845	-18.3%	14,291	12,993	-9.1%
Morgan	73	63	-13.7%	947	852	-10.0%
Shelby	38	36	-5.3%	496	482	-2.8%
TOTAL	2,048	1,740	-15.0%	29,156	26,801	-8.1%

Active listings, November 2006 vs. November 2007

County	Nov. 06	Nov. 07	% Change
Boone	537	553	3.0%
Hamilton	2,810	2,935	4.4%
Hancock	655	680	3.8%
Hendricks	1,343	1,418	5.6%
Johnson	1,305	1,314	0.7%
Madison	1,279	1,131	-11.6%
Marion	9,386	10,078	7.4%
Morgan	628	637	1.4%
Shelby	399	406	1.8%
TOTAL	18,342	19,152	4.4%

Indianapolis Market Watch for October 2007

Ryan Hart (Sold By Hart!) — Tue, 13 Nov 2007 20:11:37 -0600

Central Indiana October home sales show some areas of improvement

INDIANAPOLIS– While central Indiana pended home sales continue to fall behind last year’s levels, some counties are showing improvement in home sales and less available inventory, according to data compiled by F.C. Tucker Company.

October pended home sales overall were 12.1 percent less than October 2006. Specific county highlights include Boone County, where October pended home sales rose 27.9 percent compared to the same time last year, and Johnson County, where October pended home sales increased 0.6 percent over last year. By comparison, Shelby County posted the most significant drop in pended home sales in October with a 36.2 percent decrease.

“Althought here were some bright spots in October, we are hoping we continue to make progress in reaching normal sales levels,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Our above-average home sales success over the past few years is now balancing out, so homeowners are seeing the natural low that comes from such a historic high.”

Year-to-date real estate sales totals for the nine-county area continue to lag somewhat behind 2006 statistics. So far this year, 25,055 homes have been sold compared to 27,115 during the same time last year, down 7.6 percent. For the second straight month, year-to-date sales in Hancock County are above 2006 figures, up 0.8 percent at the end of October.

On an inventory level basis, Morgan County’s inventory balanced out in October at 666 homes, the same number of homes available in October 2006. Shelby County’s available inventory decreased 6.5 percent in October; Marion County’s inventory rose 9.9 percent.

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from MIBOR statistics on Nov. 8, 2007.

Pended single-family and condominium home sales

County

Oct. 06

Oct. 07

% Change

2006 YTD

2007 YTD

% Change

Boone

61

78

27.9%

744

741

-0.4%

Hamilton

437

373

-14.6%

5,182

4,706

-9.2%

Hancock

74

67

-9.5%

866

873

0.8%

Hendricks

190

152

-20.0%

2,268

2,042

-10.0%

Johnson

173

174

0.6%

1,973

1,868

-5.3%

Madison

149

148

-0.7%

1,493

1,437

-3.8%

Marion

1,170

1,007

-13.9%

13,257

12,152

-8.3%

Morgan

88

72

-18.2%

874

793

-9.3%

Shelby

47

30

-36.2%

458

443

-3.3%

TOTAL

2,389

2,101

-12.1%

27,115

25,055

-7.6%

Active listings, October 2006 vs. October 2007

County

Oct. 06

Oct.

07

% Change

Boone

566

602

6.4%

Hamilton

3,016

3,049

1.1%

Hancock

696

715

2.7%

Hendricks

1,437

1,488

3.5%

Johnson

1,373

1,384

0.8%

Madison

1,325

1,207

-8.9%

Marion

9,564

10,507

9.9%

Morgan

666

666

0.0%

Shelby

432

404

-6.5%

TOTAL

19,075

20,022

5.0%

County	Oct. 06	Oct. 07	% Change	2006 YTD	2007 YTD	% Change
Boone	61	78	27.9%	744	741	-0.4%
Hamilton	437	373	-14.6%	5,182	4,706	-9.2%
Hancock	74	67	-9.5%	866	873	0.8%
Hendricks	190	152	-20.0%	2,268	2,042	-10.0%
Johnson	173	174	0.6%	1,973	1,868	-5.3%
Madison	149	148	-0.7%	1,493	1,437	-3.8%
Marion	1,170	1,007	-13.9%	13,257	12,152	-8.3%
Morgan	88	72	-18.2%	874	793	-9.3%
Shelby	47	30	-36.2%	458	443	-3.3%
TOTAL	2,389	2,101	-12.1%	27,115	25,055	-7.6%

County	Oct. 06	Oct. 07	% Change
Boone	566	602	6.4%
Hamilton	3,016	3,049	1.1%
Hancock	696	715	2.7%
Hendricks	1,437	1,488	3.5%
Johnson	1,373	1,384	0.8%
Madison	1,325	1,207	-8.9%
Marion	9,564	10,507	9.9%
Morgan	666	666	0.0%
Shelby	432	404	-6.5%
TOTAL	19,075	20,022	5.0%