Area home sales, prices show increase

March 11, 2010

Home-sale agreements in the nine-county Indianapolis area are improving from year-ago levels, according to F.C. Tucker Co.

Pending home sales in February jumped 26 percent from the same month a year ago, increasing from 1,574 to 1,993, the Indianapolis-based real estate company said Wednesday.

The numbers could be an indicator that the housing market will rebound this year, said H. James Litten, president of Tucker’s residential real estate services division, in a prepared statement.

“Going into the spring home-buying season, we anticipate a sales spike as homeowners get back into the market and take advantage of the last weeks of the first-time and move-up buyer tax credits,” he said.

Marion County posted a 38-percent increase in pending home sales, while Hamilton County registered a 22-percent jump.

Average selling prices are rising, as well. The average sale price through the first two months of the year in the nine counties was $136,217, a 12-percent increase from the same period last year.

Inventory drops also might signal a turnaround. Available homes for sale in the nine counties declined 3 percent last month.


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