Residential Real Estate and Home Sales and Realtors and Real Estate & Retail

Indiana home sales and prices rise in January

February 22, 2011
Charter Homes in King Park

The Indiana Association of Realtors says the median sale price of homes across the state rose to $100,000 during January, up 5 percent when compared to the same month last year.

The group's Indiana Real Estate Markets Report released Monday says the average sale price rose marginally to nearly $122,000. The number of closed sales increased nearly 3 percent to more than 3,000.

The group's chief executive, Karl Berron, says the numbers are significant because the federal home buyer tax credit was in effect a year ago but not last month.

The median sale price of homes statewide has risen 14 out of the last 16 months, according to the association, and the inventory of homes is getting closer to normal levels.

The group's report jibes in part with January sales statistics reported for central Indiana by F.C. Tucker Co. The real estate brokerage found that the average sale price for a home in the  nine-county Indianapolis metropolitan area was $137,913, which was 2.6 percent more than in January 2010. However, home inventory in the area dropped 2.7 percent, according to Tucker statistics. Overall sales for the metro area decreased 12.2 percent from a year earlier.

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