Area home sales, prices still falling

August 11, 2009

Home-sale agreements in the nine-county Indianapolis area dropped 3.1 percent in July over the same month a year ago, according to a report released yesterday by F.C. Tucker Co.

Pending home sales in the area fell from 2,339 in July 2008 to 2,267 in July 2009, the Indianapolis-based real estate company said.

Year-to-date, the decline has been even steeper, with pending sales falling 9.1 percent over the first seven months of the year compared to the same time frame a year ago.

July home-sale agreements fell in six of the area's nine counties, but Marion, Hamilton and Johnson counties saw slight increases.

Pending sales rose 1.1 percent in Marion County, from 1,085 last July to 1,097 this July. Hamilton County saw pending sales rise less than 1 percent, from 455 to 458. In Johnson County, sales pacts rose 1.3 percent, from 157 to 159.

Year-to-date average sale prices in the area also continued to drop in July, with declines in every county. Overall, the average sale price fell from $155,240 in the first seven months of 2008 to $136,943 in the same period of 2009, a decrease of 11.8 percent.

Sale prices fell 4.5 percent in Marion County, to $101,822. Hamilton County prices dropped 10.5 percent, to $224,758.



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