F.C. Tucker and Residential Real Estate and Home Sales and Real Estate & Retail

Tax credits help boost April home sales in central Indiana

May 10, 2010

Home-sale agreements surged 33.8 percent in the Indianapolis area in April as buyers rushed to beat the deadline for sizable federal tax incentives.

More than 3,050 home-sale agreements were reached in the nine-county area in April compared to 2,286 in April 2009, according to a report released Monday by F.C. Tucker Co. All nine counties experienced an increase in pending sales.

April 30 was the deadline to sign a contract and qualify for the federal tax credit of up to $8,000 for first-time homebuyers and $6,500 for some repeat buyers. The deals must close by June 30.

Pending homes sales were up nearly 32 percent in Marion County, from 1,080 to 1,422. They rose 33 percent in Hamilton County, from 449 to 599; and 45 percent in Hendricks County, from 194 to 282.

Shelby County, with 61 home-sale agreements, posted a 134.6-percent increase over the year-ago period.

The average sales price for the nine-county area in April rose from $124,443 to $144,802.

Available homes for sale in the nine-county region rose 1.9 percent in April 2010, with 16,064 homes on the market.
 

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