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Central Indiana home sales up more 14% year to date for September

With 1,788 pended sales in September in Central Indiana, overall year-to-date home sales are up 14.6 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.

On a monthly basis, September 2012 pended home sales rose 3.8 percent over September 2011, an increase of 66 homes sold in the nine counties that F.C. Tucker tracks. Five of the nine counties reported increased sales compared to September 2011.

“We remain confident that 2012’s real estate market will end on a positive note in Central Indiana,” said Jim Litten, president of F.C. Tucker Company. “For 17 straight months, existing home sales have shown month-to-month improvement – a trend that’s been fueled largely by low interest rates and affordable prices.”

In September, Madison County saw the largest increase in pended home sales which spiked 46.5 percent, raising the number of pended home sales to 126 from 86 in September 2011. Shelby and Hamilton counties also experienced increases of 45.8 and 13.4 percent, respectively, over September 2011. Hendricks County saw the biggest decline, decreasing nine percent from September of last year. Morgan, Marion and Johnson counties also experienced decreases.

Available homes for sale in the nine-county region dropped 14.3 percent in September 2012 with 12,727 homes on the market, 2,132 fewer than in September 2011. Nine Central Indiana counties experienced varying inventory declines with Hamilton County experiencing the greatest decrease in inventory at 17.5 percent.

Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 2.2 percent. Tucker’s data indicates that eight counties experienced slightly higher home sales prices than in September 2011. Year-to-date, Morgan County led the way with a 12 percent increase in home sales prices, while Boone, Hancock, Hendricks, Johnson, Madison, Marion and Shelby also saw an uptick in prices. Only Hamilton County experienced a decline – down 1.9 percent. The average year-to-date sales price for a home in the nine-county area was $155,987.

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