Hancock, Morgan and Shelby counties all showed an increase in pended home sales last month compared to September 2009, while overall home sales in the nine-county Central Indiana region were down slightly by 6.1 percent for the year, according to sales statistics compiled by F.C. Tucker Company. Meanwhile, September 2010 home sales were off -22.8 percent compared to September 2009.
On a year-to-date basis, 18,028 homes have pended in the region through September, compared to 19,204 homes pended through September 2009. More homes are on the market in the $299,999 and under price range, while inventory is tightening slightly at prices of $300,000 and above.
Overall, more homes were on the market last month compared to September 2009, with the number of listings up slightly at 1.7 percent with 16,336 homes for sale. Hendricks and Boone counties experienced inventory increases of more than 10 percent. Madison, Marion and Morgan counties had fewer homes for sale in September 2010 than in September 2009.
The average sales price for homes in Central Indiana is up 8.1 percent year-to-date, for an average of $149,639. Of the 1,725 pended homes in the region last month, 31 were priced at $500,000 or more; 94 were priced at $300,000 to $499,999; and 1,600 were priced at $299,999 or less.
Good news for the Central Indiana housing market, average days homes for sale stayed on the market decreased in all nine counties in September. On average, homes were on the market for 83 days year-to-date through September 2010 compared to 90 days year-to-date through September 2009. Shelby, Boone and Johnson counties experienced the biggest decrease in days on the market, selling on average 12 days faster than last year.
"As the nation addresses the foreclosure crisis, we are closely watching the local impact," said Jim Litten, president of F.C. Tucker Company. "The fourth quarter of the year is a natural slowing of real estate activity, but I am convinced home prices have hit bottom and are on the way up."
For more information on Indianapolis area current market real estate conditions contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com.
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