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Home prices hold steady, sales drop

September 21, 2007
Average sale prices for central Indiana homes rose slightly in August, but the number of homes sold dropped 18.5 percent from the same month last year, according to a report issued today by the Metropolitan Indianapolis Board of Realtors.

Total home sales year-to-date are down about 8 percent from the same period during 2006. The average sale price was $155,889 in August, a 0.6-percent increase. About 2,600 homes were sold in August.

"The housing market has tightened, but the good news is that prices in central Indiana have held steady," MIBOR President Kevin Kirkpatrick said in a statement.
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