Client News
Four Central Indiana counties report increased home sales in January
Eight counties see increase in housing prices
INDIANAPOLIS – Nearly 1,450 Central Indiana homes pended in January, with four 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, January home sales decreased 5.7 percent with 1,445 homes pended compared to 1,532 in January 2009. Shelby County posted a 45 percent increase, followed by Hancock County at 13.3 percent and Johnson and Madison counties, with 12.3 percent and 6.1 percent increase, respectively.
Tucker’s just-released data indicates that eight of the nine Central Indiana counties saw increases in average home prices. Homes in Hancock County sold for an average of $142,837 in January 2010, a 42.5 percent increase over the same period last year. Also, Hendricks County showed a 27.9 percent increase in home prices, bringing the average to $179,516. The average year-to-date sales price for a home in the nine-county area was $134,027, which is 10.9 percent more than January 2009.
“As we move into the busy home-buying and selling season of spring, I expect more home buyers will enter the market to take advantage of the first-time and move-up buyer tax credits,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Also, the steady increase in home sale prices should boost seller confidence while the local real estate market continues to improve overall.”
Available homes for sale in the nine-county region dropped 6.3 percent in January 2010 with 14,578 homes on the market, 985 fewer homes than in January 2009. Six counties experienced above average inventory declines. Madison County experienced the greatest decrease in inventory at 9.3 percent, followed by Hancock and Marion counties with 8.6 percent and 8.4 percent, respectively.
As the tax season nears, Litten reminds buyers that there are many advantages to purchasing a home. “Beyond the mortgage interest and real estate tax exemptions on your tax returns, homeowners may also qualify for residential energy credits of up to 30 percent of the cost for certain home improvements, including equipment and installation for solar electric power, solar water heating, wind energy and more,” said Litten.
###
Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on Feb. 7, 2010. Pending means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signin.
With more than $2 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with 46 offices and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. Less than one percent of all real estate firms have the longevity of F.C. Tucker. Founded in 1918, the company’s family of businesses includes a full range of real estate services—mortgages, title insurance, relocation services, a full line of insurance products, auctioning and homeowner warranty products. F.C. Tucker has earned a reputation for its exceptional service, experienced sales associates and “Golden Rule” commitment to its clients and employees.