The April statistics are being released from Indiana Association of Realtors (www.indianaishome.com) and the Metropolitan Indianapolis Board of Realtors (via the Broker Listing Cooperative).
The housing market saw a tremendous upswing in the month of April 2010!
With the expiration of the First Time Homebuyer Tax Credit and the Expanded Tax Credit on April 30th, home buyers and their agents were scrambling to find the right house in time to have an accepted offer by the deadline. We may see this upswing continue through June 2010 which is the deadline for buyers to close escrow if they are taking advantage of the tax credits.
Here is a snapshot of Indianapolis and the surrounding counties:
Marion County (Indianapolis)
1,063 homes were sold in April 2010 which was a 23.9% increase over last year! The median sales price was $102,000 which was an increase of 27.5% from last year.
Hamilton County (Fishers, Noblesville, Carmel, etc)
475 homes were sold last month in this county which was a 50% increase from April 2009! The median sales price increased over last year by 5% to $175,000
Hancock County (McCordsville, Fortville, Greenfield, New Palestine, etc)
74 homes closed in this county in April 2010 which was an increase of 27.6% and the median sales price in Hancock County was $149.950 which was a 27.7% increase compared to last year.
Hendricks County (Plainfield, Avon, Brownsburg, etc)
This county saw an increase in sales of 7.5% as 173 homes were sold in April of this year. The median sales price increased slightly to $137,507 from $135,500.
Johnson County (Greenwood, Center Grove, Franklin, Bargersville, etc)
178 homes were closed in April 2010 which was an increase of 7.9% and the median sales price increased5.4% to $120,000 from $113,900.
Boone County (Zionsville, Whitestown, Lebanon, etc)
70 homes were sold last mont in Boone County. This was a 40% increase over April 2009. The median sales price dipped lightly to $159,950 which was a 10% decrease over last year.
The above data is all from Indiana Association of Realtors April 2010 Market Report and includes single family homes, condos, townhomes. Info is obtained through cooperating MLS and BLC databases.
The Metropolitan Indianapolis Board of Realtors April report shows that in the 13 county area they serve, that 35% of sold homes were foreclosures over the last three month period. At the same time, 17% of new listings coming on to the market were foreclosures. Average sales price over the last three months has been $64,362 for foreclosed homes.
When looking at absorption rates, MIBOR's report shows inventory decreasingwith an average absorption rate 8.2% (or a little over 8 months of inventory currently on the market). In the Broker Listing Cooperative, 3,230 homes were changed to pending status in April of 2010, which was a 36% increase when comparing the same month in 2009.
For more information, or to get a specific report about your neighborhood, please contact me! My email address is denise@gocitywise.com and our office number is 317-843-2929 x 112.
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