Client News
April pended home sales up nearly 34 percent in Central Indiana
All nine counties see increase in housing prices
INDIANAPOLIS – More than 3,050 Central Indiana homes pended in April, with all 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, April home sales jumped 33.8 percent with 3,059 homes pended compared to 2,286 in April 2009. Shelby County posted a 134.6 percent increase, followed by Morgan County with a 78.3 increase and Hancock and Boone counties with a 50 percent and 48.4 percent increase, respectively.
Tucker’s just-released data also indicates that all nine Central Indiana counties saw increases in average year-to-date home prices. Homes in Shelby County sold for an average of $92,182, a 25.4 percent increase over the same period last year. Also, Marion and Madison counties showed 18.6 percent and 16.7 percent increases, respectively. The average year-to-date sales price for a home in the nine-county area was $141,393, which is 13.6 percent more than January to April of last year.
“For the third consecutive month, pended home sales in Central Indiana have significantly increased,” said Jim Litten, president of F.C. Tucker Company. “In addition, home prices have steadily increased the past four months, leading to more stability in the market.”
As homeowners readied their homes for the traditional spring and summer home buying season, available homes for sale in the nine-county region rose 1.9 percent in April 2010 with 16,064 homes on the market, 292 more homes than in April 2009. Three counties still experienced above average inventory declines. Hamilton County experienced the greatest decrease in inventory at -4 percent, followed by Johnson County at -2.3 percent.
“With the expiration of the federal first-time and move-up buyer tax credits, maintaining this momentum throughout the home-buying season will be important to a successful rebound,” said Litten.
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Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on May 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 signing.
With more than $2.2 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with 45 offices and more than 1,300 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.