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Area home sales decline for first time in 2-plus years

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Residential sales agreements in the nine-county Indianapolis area fell slightly in July, marking the first year-over-year monthly decline in existing-home purchases in more than two years.

Real estate agency F.C. Tucker Co. said Tuesday morning that 2,457 sales agreements were reached in the area in July, a drop of seven home sales from July 2012.

The decline was minor, but it was the first one since April 2011. Since then, deals had risen for 26 straight months.

The pace of home-buying has fallen nationally due to higher mortgage rates, rising prices and lower inventories.

Pending sales rose 3.7 percent in Marion County, from 1,005 in July 2012 to 1,042 in July 2013. Deals climbed 30 percent in Hancock County, to 90, and 16 percent in Morgan County, to 95.

Housing hotbed Hamilton County saw pending sales decline 7 percent, from 569 to 529. Contracts fell 1.8 percent in Hendricks County, to 223, and dropped 4.4 percent in Johnson County, to 215.

Available homes for sale in the region dropped 20.3 percent in July 2013, with 10,912 homes on the market—2,781 fewer than in July 2012. Marion County’s inventory dropped 29.5 percent.

Year-to-date, pending sales are up 19.4 percent compared to last year, with 2,457 deals in the area.

The average sales price for an area home is up 5.9 percent so far this year, to $164,419. The average home price increased 8.2 percent in Marion County, to $127,941.

Boone County has the area’s highest average home price year-to-date, at $257,265. That’s up only 1.1 percent over a year ago. The average home price in Hamilton County is up 3.7 percent, to $248,346.

Three homes priced at more than $2 million exchanged hands in the area last month. Another eight were sold at prices between $1 million and $2 million.
 

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  1. Can your dog sign a marriage license or personally state that he wishes to join you in a legal union? If not then no, you cannot marry him. When you teach him to read, write, and speak a discernible language, then maybe you'll have a reasonable argument. Thanks for playing!

  2. Look no further than Mike Rowe, the former host of dirty jobs, who was also a classically trained singer.

  3. Current law states income taxes are paid to the county of residence not county of income source. The most likely scenario would be some alteration of the income tax distribution formula so money earned in Marion co. would go to Marion Co by residents of other counties would partially be distributed to Marion co. as opposed to now where the entirety is held by the resident's county.

  4. This is more same-old, same-old from a new generation of non-progressive 'progressives and fear mongers. One only needs to look at the economic havoc being experienced in California to understand the effect of drought on economies and people's lives. The same mindset in California turned a blind eye to the growth of population and water needs in California, defeating proposal after proposal to build reservoirs, improve water storage and delivery infrastructure...and the price now being paid for putting the demands of a raucous minority ahead of the needs of many. Some people never, never learn..

  5. I wonder if I can marry him too? Considering we are both males, wouldn't that be a same sex marriage as well? If they don't honor it, I'll scream discrimination just like all these people have....

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