Three counties show improvement in Central Indiana housing market
July statistics point to areas with improved sales, overall shrinking inventory
HENDRICKS COUNTY - 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 sametime 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," "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.
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Active Listings - Inventory
Pended single-family and condominium home sales
Active Listings over Time
Average Sale Price
Home Prices over Time
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%
|
|
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%
|
Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on August 7, 2009. Pending means the sales contract has been signed, but the transaction has not closed. According tothe NAR, pending sales typically are finalized within a month or two of signing.
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