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Report: Area home sales up 5 percent

October 13, 2008
Central Indiana home sales rose 5 percent in September, compared with a year earlier, according to a report released today by Landrigan & Co., a residential real estate firm.

Landrigan said September sales in 13 area counties, including Marion, totaled 2,192, up from 2,084 in the same month a year earlier.

The report offered a glimmer of hope that the long-slumping residential market is starting to rebound. It also noted that the backlog of homes listed for sale fell to 19,751, a drop of more than 8 percent from a year earlier.

Other data wasn't so encouraging, however. Landrigan said the average sale price was $139,627, down 5 percent from September 2007.
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