April pended home sales up nearly 34 percent in Central Indiana

More than 3,050 Central Indiana homes pended in April, with all nine Central Indiana counties reporting increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company.

Overall, April home sales jumped 33.8 percent with 3,059 homes pended compared to 2,286 in April 2009. Shelby County posted a 134.6 percent increase, followed by Morgan County with a 78.3 increase and Hancock and Boone counties with a 50 percent and 48.4 percent increase, respectively. 

Tucker's just-released data also indicates that all nine Central Indiana counties saw increases in average year-to-date home prices. Homes in Shelby County sold for an average of $92,182, a 25.4 percent increase over the same period last year. Also, Marion and Madison counties showed 18.6 percent and 16.7 percent increases, respectively. The average year-to-date sales price for a home in the nine-county area was $141,393, which is 13.6 percent more than January to April of last year.

"For the third consecutive month, pended home sales in Central Indiana have significantly increased," said Jim Litten, president of F.C. Tucker Company. "In addition, home prices have steadily increased the past four months, leading to more stability in the market."

As homeowners readied their homes for the traditional spring and summer home buying season, available homes for sale in the nine-county region rose 1.9 percent in April 2010 with 16,064 homes on the market, 292 more homes than in April 2009. Three counties still experienced above average inventory declines. Hamilton County experienced the greatest decrease in inventory at -4 percent, followed by Johnson County at -2.3 percent.  

"With the expiration of the federal first-time and move-up buyer tax credits, maintaining this momentum throughout the home-buying season will be important to a successful rebound," said Litten.

For more information on current market conditions in the Indianapolis area, contact Kammeyer Realty Group at 317-570-3800 or visit us at www.KammeyerRealtyGroup.com.