Indianapolis Real Estate Matters

March pended home sales up 10 percent in Central Indiana

Eight counties see increase in housing prices

INDIANAPOLIS – More than 2,500 Central Indiana homes recorded pended sales in March, with eight of nine Central Indiana counties reporting increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company.

Overall, March home sales jumped 10.6 percent with 2,509 homes pended compared to 2,268 in March 2009. Shelby County posted a 34.3 percent increase, followed by Hamilton and Johnson counties with a 20.3 percent and 15.7 percent increase, respectively. Boone County was the only Central Indiana county to show a decrease in home sales, with a 21.4 percent decline.

Tucker’s just-released data also indicates that eight of the nine Central Indiana counties saw increases in average year-to-date home prices. Homes in Marion County sold for an average of $105,616, a 17.4 percent increase over the same period last year. Also, Hancock and Morgan counties showed 14.8 percent and 13.7 percent increases, respectively. The average year-to-date sales price for a home in the nine-county area was $139,533, which is 12.1 percent more than January to March of last year.

“Pended home sales in Central Indiana have steadily increased each month in 2010,” said Jim Litten, president of F.C. Tucker Company. “We hope this trend continues throughout the spring home-buying season as Hoosiers take advantage of the final days of the federal tax credits and continued low mortgage rates.”

As homeowners readied their homes for the traditional spring and summer home buying season, available homes for sale in the nine-county region rose 2.3 percent in March 2010 with 15,986 homes on the market, 358 more homes than in March 2009. Five counties still experienced above average inventory declines. Johnson County experienced the greatest decrease in inventory at -4.9 percent, followed by Hamilton County with 0.2 percent.

Federal tax credit to expire April 30

Potential Central Indiana homebuyers have until April 30 to take advantage of the first-time and move-up buyer tax credits before they expire. To qualify, homebuyers have to sign a purchase agreement by April 30 and close by June 30. For additional details, please visit http://talktotucker.com/buying/federal_tax_credit.asp.