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House sales fall nearly 9 percent in July

August 13, 2008

The contraction in Indianapolis-area house sales hasn't ended, July figures suggest.

Sales in Marion County, surrounding counties and Madison County fell to 2,336 units last month from the same month last year, brokerage F.C. Tucker Co. said yesterday.

The figures, based on Metropolitan Indianapolis Board of Realtors data, also show that all counties but Boone and Madison had fewer sales. Hancock was hurt worst: down 30 percent, to 75 houses.

The average sale price across the region declined 5 percent, to $146,572. Tucker doesn't break sale prices down by county.

Inventory of available houses tightened 7.4 percent, with Madison County inventory falling the most and Boone County showing the sole increase, 3.4 percent.

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