Indianapolis Real Estate Matters

October pended home sales up 20 percent in Central Indiana

Best October in F.C. Tucker history for listings sold, buyers represented

INDIANAPOLIS – More than 2,150 Central Indiana homes pended in October, 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.

October home sales increased 20.1 percent overall with 2,153 homes pended compared to 1,792 in October 2008. Shelby County posted a 62.1 percent increase, followed by Boone County at 37 percent and Johnson County at 34.6 percent. Year to date, overall pended home sales are down 2.6 percent compared to the same timeframe in 2008.

“Certainly the first homebuyer’s tax credit was a big part of the resurgence,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division, noting that Tucker recently had the best October in the history of the company for listings sold and buyers represented. “We are pleased with the recent extension of the tax credit and expansion to include existing home owners.”

Available homes for sale in the nine-county region dropped 15.1 percent in October 2009 with 15,244 homes on the market, 2,712 fewer homes than in October 2008. Three counties experienced above average inventory declines. Hancock County experienced the greatest decrease in inventory at 18.5 percent, followed by Marion County and Madison County, with 17 and 16.8 percent, respectively.

“Less inventory and increased demand brings more consumer confidence to the market,” said Litten. “This is the closest we’ve been to a balanced market in three years.”

October 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 $138,904, which is 4.5 percent less than the same period last year.

Note: President Obama signed the “Worker, Homeownership, and Business Assistance Act of 2009” (WHBAA) last Friday. This act extended the first-time homebuyer credit to May 1, 2010, increased the income cap allowing more taxpayers to qualify and created a new incentive for “long-time residents” who purchase a different principal residence. Please check www.talktotucker.com for more information.

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Pended single-family and condominium home sales

Active Listings – Inventory

Active Listings over Time

Average Sale Price

Pended single-family and condominium home sales