Nearly 2,000 homes pended in June, with all but two central Indiana counties reporting increased sales compared to the same time period last year, according to sales statistics compiled by F.C. Tucker Company. Overall, June 2011 pended home sales rose more than 16 percent over June 2010, an increase of 273 homes sold.
The largest increases in pended home sales in June were seen in Hancock and Madison counties with 34 and 32.5 percent increases over June 2010, respectively. Shelby and Boone counties saw decreases in pended home sales over June 2010 with 18.2 and 8.2 percent declines, respectively. Overall, homes sales are down year-to-date by 9 percent, as the market continues to adjust after last year’s homebuyer tax credit, which encouraged first-time home buyers to buy before April 30, 2010.
“We are continuing to see the housing market in central Indiana stabilize,” said Jim Litten, president of F.C. Tucker Company. “June’s home sales increase of 16 percent has shrunk the year-to-date decline over 2010 to 9 percent. As this trend continues, I predict we’ll end the year in the positive.”
Available homes for sale in the nine-county region dropped 7.5 percent in June 2011 with 15,722 homes on the market, 1,274 fewer than in June 2010. Seven counties experienced inventory declines with Marion County experiencing the greatest decrease in inventory at 11.5 percent, followed by Madison and Johnson counties with 8 and 6.7 percent decreases, respectively. Shelby County’s inventory increased by 2.5 percent and Hancock County’s increased by 0.3 percent.
Overall, sales prices for the nine-county central Indiana area increased by 0.5 percent. Tucker’s data indicates that four counties experienced higher home sales prices than in June 2010, year-to-date. Hancock County led the way with a 7.2 percent increase in home sales prices year-to-date, while Shelby, Hamilton and Johnson also saw increases in home sales prices. Morgan and Boone counties experienced the biggest drop in home sales prices with 6.5 and 1.9 decreases, respectively. The average year-to-date sales price for a home in the nine-county area was $148,030. Of the pended homes in the region last month, 62 were priced $500,000 or more; 179 were priced $300,000 to $499,999; and 1,726 were priced at $299,999 or less.
Contact Kammeyer Realty Group at 317-570-3800 for more information on the Indianapolis area real estate conditions or visit us at www.KammeyerRealtyGroup.com.
Pended single-family and condominium home sales
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