Indianapolis Market Watch for August 2009

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

Pended single-family and condominium home sales

Active Listings over Time

Average Sale Price