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Home-sale agreements for Indy area jump in January

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Sales of existing homes in the nine-county Indianapolis area are off to a strong start in 2012, with the number of sales agreements increasing 13.4 percent in January compared with the same month a year earlier.

Purchase agreements in the area rose to 1,531 last month, 181 more than in January 2011, according to a report released Monday morning by F.C. Tucker Co. Inc., the city’s largest real estate agency.

In January, Marion County saw a 22.7-percent increase in sales agreements from a year earlier, from 596 to 731. Johnson County saw a larger, 26.9-percent bump, as the number of pending sales rose from 93 to 118. Hancock County tallied a 52.2-percent rise, the largest of the nine counties, with 70 sale agreements after 46 in January 2011.

Hamilton and Hendricks counties, however, both had less activity last month than in January 2011. Pending sales in Hamilton dipped 5.3 percent, to 269 from 284, while sales agreements in Hendricks dropped 10.9 percent, to 123 from 138.

F.C. Tucker expects home sales to continue to improve during the first six months of the year, but then to likely slow a bit during the second half as homebuyers take a “wait-and-see approach” to results of the November presidential election, said Jim Litten, president of F.C. Tucker, in a prepared statement.

Available homes for sale in the nine-county region dropped 15.3 percent in January, with 12,120 houses on the market. Marion County’s inventory fell 18.5 percent.

The average sale price of a home in the area declined 3.3 percent in January, to $134,782.
 

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  • Indy Home Sales
    I find it interesting that an upturn in home sales can result in President Obama being called a socialist by hc, in the post below. First of all, I do not think the POTUS had anything to do with this latest increase in home sales. Banks have been sitting on funds for three years, waiting for the US Congress and Senate to resolve how banks will treat properties in foreclosure, and that decision has been made. In addition, the banks are now held accountable to verify earnings and debts of all borrowers, something that was not done between 2004 and 2008. All in all, I am happy for the people selling their homes, except for the fact that the valuations are lower than during the "pump and dump" era that created the financial collapse of the US Housing Market in 2007.
  • To Be Sure
    Obama is still a socialist, communist and freedom usurper even if that makes absolutely no sense and the economy is on the up tick.

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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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