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House sales fall, inventories wither in October

November 12, 2008
Sales of houses in the Indianapolis area dipped 12.3 percent, to 1,838, in October from the same month last year, the Indianapolis real estate brokerage F.C. Tucker Co. said yesterday.

Year-to-date sales are down 11.3 percent, said Tucker, which based the figures on data gathered by the Metropolitan Indianapolis Board of Realtors.

Eight local counties tracked by the organization saw sales declines. Only Hancock saw an increase.

However, the inventory of unsold homes contracted. The region had 17,746 houses for sale in October, down nearly 13 percent from a year earlier.

Hendricks and Marion counties last month saw big declines in inventories, 15.9 percent and 19.5 percent respectively. Only Boone County had more houses on the market than a year earlier.

Tucker did not disclose sale prices for October.

Through the first nine months of the year, the average sale price fell 5.2 percent, to $145,779, from the same period last year, Tucker said.
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