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Area home sales slide again

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Home-sale agreements in the nine-county Indianapolis area plummeted more than 27 percent in July compared to the same month of 2009, according to a report released Wednesday by residential real estate firm F.C. Tucker Co.

The decline marked the third 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 home sales dropped from 2,351 in July 2009 to 1,707 last month, a decline of 27.4 percent. Pending sales were down 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 2 percent from the same seven months of 2009.

In Marion County, July sales agreements fell 32.5 percent compared to the previous year, from 1,100 to 743. Pending sales dropped 25.6 percent in Hamilton County, from 496 to 369, and 32.3 percent in Hendricks County, from 198 to 134.

Johnson County saw the area’s smallest decline, as pending sales dropped 11.9 percent, from 177 to 156.

On a positive note, the average price of homes sold in the area in July was up 9.8 percent, from $146,155 in July 2009 to $160,496 in July 2010. Home prices were up 18.2 percent in Hamilton County, to $277,966, and 6.7 percent in Marion County, to $119,786.

Home inventory was up 5.8 percent in July from a year ago, with 17,276 homes listed in the nine-county area.
 

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  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

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