Home-sale agreements dropped nearly 20 percent in the nine-county Indianapolis area in April, the eighth straight month of decreasing deals.
Pending sales of existing homes fell 19.9 percent, from 3,153 in April 2013 to 2,525 in April 2014, real estate agency F.C. Tucker said Tuesday morning.
Area home prices continued to rise as inventories shrank. The average home price through the first four months of 2014 was $165,238, Tucker said, an increase of 8.2 percent compared with the same period of 2013.
Available homes for sale in the region dropped 1.4 percent in April, with 10,924 houses on the market, 160 fewer than the same month a year ago.
Pending sales were down in eight of the area’s nine counties in April.
Hancock County saw a rise of 9.5 percent, from 105 agreements in April 2013 to 115 in April 2014.
Marion County saw a 20-percent drop in sale agreements, from 1,341 last year to 1,073 this year.
Housing hotbed Hamilton County suffered a whopping decrease of 26.1 percent, to 547 agreements.
Deals fell 21.6 percent in Hendricks County, to 240, and were off 8.3 percent in Johnson County, to 232.
Year-over-year average home prices rose 10 percent in Hamilton County, to $260,670. The lowest average home price was in Madison County, at $73,095.
Four homes priced between $1 million and $2 million sold in central Indiana in April. Nearly half the sales in the area (1,151) took place in the $100,000-to-$199,999 price range.