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Area home sales stronger, prices still down

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Home-sale agreements in the nine-county Indianapolis area ticked up in September, due in large part to first-time buyers who were enticed by large tax breaks.

Pending sales increased 12 percent from the same month a year earlier, climbing to 2,160 from 1,929, according to a report released Friday by Indianapolis real estate brokerage F.C. Tucker Co.

Year-to-date, however, pending sales were down 5 percent from the first nine months of 2008.

“First-time home buyers continue to drive our local housing recovery, and last month in particular, we noticed a marked increase in open house traffic,” Jim Litten, president of Tucker’s residential real estate services division, said in a prepared statement.

A tax credit of $8,000 is available until Nov. 30 to qualified first-time home buyers.

Within the nine-county metro area, pending sales increased in every county except Morgan and Shelby counties. Pending sales in Morgan fell from 74 in September 2008 to 59 last month, and in Shelby, from 43 to 36.

Madison County posted the largest jump, 37 percent, rising from 104 to 143.

In Marion County, pending sales climbed 13.4 percent, from 920 in September 2008 to 1,043 last month.

The average sale price in the nine-county area fell 5 percent, to $138,815, in August from the August 2008.

Shelby County reported the biggest dip, 15.6 percent. The average sale price there fell to $85,347 in August from the same month in 2008.

The average home price in Marion County was $103,355, a 3.3-percent decline from August 2008.

No county in the metro area recorded an increase in the average sale price of a home.
 

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

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