Area home sales still falling

Back to TopCommentsE-mailPrintBookmark and Share

Home-sale agreements in the nine-county area fell 23 percent in August when compared to the same month a year earlier, according to a report released Thursday by F.C. Tucker Co.

Pending home sales dropped last month to 1,790, down from 2,327 in August 2009, the Indianapolis-based real estate company said.

The decline marked the fourth straight month that home sales have slumped in central Indiana following three straight months of improving sales activity spurred by generous federal tax credits.

Pending sales were down 27 percent in July, 30 percent in June and 32 percent in May.

Pending home sales account for sales agreements, not sales that have closed. Year-to-date, sales agreements are off 4.5 percent from the same eight months of 2009, the report said.

In Marion County, August sales agreements fell 23.9 percent compared to the previous year, from 1,124 to 855. Pending sales dropped 29.7 percent in Hamilton County, from 462 to 325, and 20.5 percent in Hendricks County, from 195 to 155.

Madison County is the only county in the region to record an increase in sales, with 117 in August, 14 more deals than a year ago.

On a positive note, the average price of homes sold in the area in August was up 8.9 percent, from $137,888 in August 2009 to $150,113 last month. Prices were up 7.6 percent in Hamilton County, to $243,482, and 12.1 percent in Marion County, to $114,919.

Home inventory was up 6.3 percent in August from a year ago, with 17,225 homes listed in the nine-county area.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ