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Growth in area home sales hits March slowdown

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Home-sale agreements in the nine-county Indianapolis area rose just 1.2 percent in March after the local housing market reported much healthier increases for the first two months of the year.

Purchase agreements for existing homes totaled 2,516 in March, up slightly from 2,486 in the same month a year earlier, Indianapolis-based real estate agency F.C. Tucker Co. Inc. said Friday morning.

That followed a 17.2-percent surge in January and an 8.1-percent jump in February. For the quarter, sale agreements were up 13.1 percent.

Pending home sales totaled 1,112 in Marion County last month, up 1.6 percent from March 2012.

In Hamilton County, purchase agreements climbed just 1.3 percent, to 557, but in Johnson County, agreements shot up 23.4 percent, to 216.

Agreements fell 6.5 percent in Hendricks County, to 203.

Sale prices increased faster than agreements.

Average prices in the quarter rose 5.2 percent, to $146,896, in the area compared with the same period last year..

In Hamilton County, the average rose 2.6 percent, to $232,445. In Marion County, the average increased 9 percent, to $114,388.

In March, six pending sales were between $1 million and $2 million; 55 fell in the range of $500,000 to $1 million; and 213 pended at $300,000.
 
 

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  • Mikey
    The first paragraph tells the tell. Even in a nuclear winter home sales and building permits will always rise in the spring.
  • What a Fluke
    just earlier this week was an article saying how the housing market is on the rise, and i commented saying its a complete fluke bc investors are giving the housing market a fictitious rebound. again, there is no housing recovery!!! people need to stop listening to media crap and understand that cash investors are buying up and hoarding the properties. in the end, just like the financial markets, investors will again ruin the housing market. these folks buy/sell/rent homes w/ no interest in the areas, just $$$. they let houses sit empty and rent them out to be neglected. those are facts

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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