HENDRICKS COUNTY INDIANA - While overall home sales remain lower on a month-to-month and year-to-date basis in Central Indiana, three Indianapolis-area counties reported higher sales in December 2008 than the same time in 2007, according to finalized pended sales statistics compiled by F.C. Tucker Company. Hancock, Johnson and Marion counties showed improvement over other counties in the nine-county region.
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 Reserves 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, 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 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.
I continue to stay optimistic about the real estate market, depsite the sometimes meida gloom and doom. Please contact www.chriscastetter.comfor your real estate needs in Hendricks and west Marion Counties. Proudly serving Avon, Plainfield, Danville and Brownsburg. indymarketleader@gmail.com
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