Central Indiana home sales continue to lag last year’s pace, but the inventory of available houses is beginning to slip, according to the latest residential real estate report from Indianapolis-based Landrigan & Co. Realtors.
According to the report, which uses figures from the Metropolitan Indianapolis Board of Realtors, 1,848 homes were sold in April in the 13-county central Indiana area, down 10.9 percent from the same month a year ago.
The average sale price in April fell 10.5 percent, to $122,819, from a year ago.
In one sign that the real estate market may have hit bottom, the number of homes for sale dropped from 20,287 a year ago to 16,986-a decrease of 16.2 percent.
Marion County led all counties in the region with 847 home sales in April, down from 1,129 a year ago. The average sales price fell from $104,481 to $91,056.
Sales actually rose in Johnson County, from 126 to 162, and the average sales price rose from $130,788 to $131,315.
Sales also increased in Boone County from, 46 to 49, but the average sales price fell by nearly $26,000, to $213,372.
Hamilton County home sales fell from 337 to 311, and the average sales price dropped from $245,423 to $203,405.