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Area home-sale agreements rise for 19th straight month

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Home-sale agreements in the nine-county Indianapolis area jumped 14.2 percent in November, marking the 19th straight month the number of pending sales has increased.

Overall, home-sale agreements are up 16.9 percent through November compared with the same period in 2011, Indianapolis-based real estate agency F.C. Tucker Co. Inc. said Monday morning.

Purchase agreements for existing homes totaled 1,708 in November, 213 more than reported in November 2011.

Every county in the area except Johnson reported an increase, F.C. Tucker said.

Home-sale agreements in Marion County were up 8.1 percent in November, from 663 to 717. Hamilton County sales rose less than 1 percent, from 323 to 325, but are up 21 percent for the year.

Pending sales in Hendricks County rose 64.2 percent during the month, from 106 to 174, and were up 55.7 percent in Madison County, from 70 to 109.

Average sale prices for the year have risen 2.1 percent in the overall area, to $155,742. Prices are up 3.5 percent in Marion County, to $119,159.

Counties that recorded a decline in average sale price last month were Hamilton, down 3.2 percent, to $240,828, and Hancock, down 0.1 percent, to $139,183.

Prices for the most part are increasing due to a falling inventory of available homes. There were 11,096 existing homes on the market in November, a drop from 13,423 in November 2011.

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  • Thanks Mitch
    Good to know that right to work for less and daylight savings time benefits are finally kicking in.

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