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Home-sale deals tick up in Indianapolis area

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Home-sale agreements in the nine-county Indianapolis area ticked up 3.6 percent in July compared with the same month last year, marking the third straight month of year-over-year increases after 14 months of declining sales.

Sales agreements climbed to 1,833 last month, an increase of 64 homes over July 2010, according to a report released Thurday by F.C. Tucker Co.

While higher than a year ago, July’s sales were about 22 percent below what they were in the same month of 2009, when 2,351 home-sales agreements were reached.

Year-to-date sales agreements are down 6.7 percent compared to the same period of 2010.

Marion County saw a 5.4-percent rise in July sales agreements from a year earlier, from 747 to 787. Hamilton County deals dropped 4.2 percent, from 402 to 385. Hancock County saw a 44-percent increase, from 59 to 85.

Available homes for sale in the nine-county region dropped 11 percent in July, with 15,431 homes on the market. Marion County’s inventory dropped 14.8 percent.

Year-to-date sale prices are up 1.6 percent in 2011, from $148,759 to $151,157.

So far this year, sales agreements have been reached on 71 homes in the area priced at $500,000 or more.
 

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  • really Paul;
    Paul you seem to want to not trust anyone, i would think asking the leading Real Estate Company in the State for numbers and facts on the market is a good place to start. When numbers were down in the past few years they did not sugarcoat it and push false numbers. But you just don’t want to trust anyone and only hear what the national media has to say about the markets. I would disagree 100% that Tucker is not an expert in the market. That’s like saying a fox doesn’t know the best way to eat a hen...
  • Not rubbish
    F.C. Tucker compiles its monthly statistics from a report put together by the Metropolitan Indianapolis Board of Realtors, which tracks area residential real estate sales through its Multiple Listing Service.

    Local media has been reporting statistics from MIBOR and F.C. Tucker for decades, and nobody has ever disputed the reliability of their numbers.

    And if Tucker distorted those numbers, I'm pretty sure a competitor would call them on it almost immediately.

    That being said, if you can recommend an independent party that compiles regular residential real estate statistics about the Indianapolis area, we'd be glad to consider using them.
  • Yeah, right
    These numbers are suspect, because there is an inherent conflict of interest in their release. FC Tucker is not a market expert. They are a market participant. They generate income by generating sales, so it is in their best interest to represent the market in the best light possible. It is foolish to ask the fox how things are going in the hen house. I can't for the life of me understand why any reputable journalist would print such rubbish.
    • IBJ
      Good article.

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