For the fifth straight month, home sale prices in all nine Central Indiana counties year-to-date through November have increased over 2009 by an average of more than 8 percent, just a few points off the national average, according to sales statistics compiled by F.C. Tucker Company. Meanwhile, November pended home sales are down -17.5 percent over November 2009, with an average of -10.1 percent for the year.
"Increasing home prices point to signs of recovery in Central Indiana, but we still need to work through the nationwide foreclosure issues and increase the employment rate," said Jim Litten, president of F.C. Tucker Company." "While home sales are not where we want them to be, we still have seen movement in the market, with more than 20,000 homes sold this year,"
On a year-to-date basis, 20,560 homes have pended in the region through November, compared to 22,871 homes pended through November 2009. The average sale price for homes in Central Indiana year-to-date through November was $150,130. Of the 1,222 pended homes in the region last month, 27 were priced at $500,000 or more; 75 were priced at $300,000 to $499,999; and 1,120 were priced at $299,999 or less. More homes are on the market in the price range of $299,999 and under, while inventory continues to tighten at prices of $300,000 to $999,999.
The average days on the market decreased year-to-date through November 2010 over last year. On average, homes were on the market for 84 days year-to-date through November 2010 compared to 89 days year-to-date through November 2009. Shelby County experienced the biggest decrease in days on the market, selling on average 10 days faster than last year.
Overall, more homes were on the market last month compared to November 2009, with the number of listings up slightly at 1.6 percent with 15,151 homes for sale. Hendricks, Hamilton and Boone counties experienced the highest inventory increases, while Morgan, Marion and Shelby counties experienced a slight decrease in inventory compared to November 2009.
For more information on current Indianapolis area real estate conditions contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com.
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