Area home sales, prices continue to improve

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Home-sale agreements and prices in the nine-county Indianapolis area continue to improve from year-ago levels, according to F.C. Tucker Co.

Pending home sales in March climbed 10.6 percent from the same month a year earlier, rising from 2,268 to 2,509, the Indianapolis-based real estate brokerage said Monday.

The increase followed a 26-percent jump in February, when pending sales rose from 1,574 to 1,993.

“Pended home sales in central Indiana have steadily increased each month in 2010,” Tucker President Jim Litten said in a prepared statement. “We hope this trend continues throughout the spring homebuying season as Hoosiers take advantage of the final days of the federal tax credits and continued low mortgage rates.”

Federal law extended an $8,000 tax credit for first-time buyers that was to have expired in late November. It now covers homes purchased or under contract through April 30. It also created a $6,500 tax break for existing homeowners who have lived in their current residence for at least five years.

Pending home sales in March increased 20.3 percent in Hamilton County and 10.6 percent in Marion County, compared with the same month a year ago. Overall, eight of the nine counties in the metropolitan area, excluding Boone, saw home-sale agreements rise last month.

Meanwhile, home prices in Marion County showed the most improvement within the nine-county metropolitan area. Prices in the county jumped 17.4 percent in March, to $105,616, compared with the same time last year.

Hancock (14.8 percent), Morgan (13.7 percent) and Hamilton (10.6 percent) counties also reported double-digit increases in sale prices last month.

Overall, the average home price in the nine-county area rose 12.1 percent, to $139,533.


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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.