Indianapolis Real Estate Matters

Central Indiana home sales climb 3.3 percent in November

INDIANAPOLIS – Nearly 1,500 Central Indiana homes pended in November, with five 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.

November home sales increased 3.3 percent overall with 1,497 homes pended compared to 1,449 in November 2008. Shelby County posted a 54.2 percent increase, followed by Johnson County at 32.7 percent and Boone County at 9.3 percent. Year to date, overall pended home sales are down 1.8 percent compared to the same timeframe in 2008.

“Traditionally, with winter approaching we see home sales start to slow,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “However, with extension of the first-time homebuyers credit and the addition of the repeat homebuyers credit, coupled with affordable housing prices and mortgage rates, we are experiencing steady activity in the market.”

Available homes for sale in the nine-county region dropped 14 percent in November 2009 with 14,646 homes on the market, 2,394 fewer homes than in November 2008. Two counties experienced above average inventory declines. Hancock County experienced the greatest decrease in inventory at 18.2 percent, followed by Marion County with 16 percent.

November housing statistics point to continued opportunities for buyers to take advantage of affordable housing prices across the nine-county Central Indiana region. The average year-to-date sales price for a home in the nine-county area was $139,169, which is 3.7 percent less than the same period last year.

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Pended single-family and condominium home sales

Active Listings – Inventory

Active Listings over Time

Average Sale Price