Central Indiana home sales up nearly 8 percent in December
Inventory tightens by 18.4 percent, while sales prices are up year-to-date over 2010
INDIANAPOLIS – More than 1,200 homes pended in December, with all but three Central Indiana counties reporting increased sales compared to the same time period last year, according to statistics compiled by F.C. Tucker Company. Overall, December 2011 pended home sales rose 7.9 percent over December 2010, an increase of 93 homes sold in the nine counties that F.C. Tucker tracks.
In December, Shelby County saw the largest increase in pended home sales which spiked 50 percent, raising the number of pended home sales to 39 from 26 in December 2010. Morgan and Hendricks counties also experienced increases of 33.3 percent and 19.8 percent over December 2010, respectively. Home sales declined in Madison, Boone and Johnson counties.
Available homes for sale in the nine-county region dropped 18.4 percent in December 2011 with 11,914 homes on the market, 2,681 fewer than in December 2010. All nine Central Indiana counties experienced varying inventory declines with Johnson County experiencing the greatest decrease in inventory at 25.4 percent. Morgan County’s inventory was the most stable, down just 3.6 percent.
“Listing inventory continues to fall while home sales prices inch up – all signs that the recovery mode continues across Central Indiana,” said Jim Litten, president of F.C. Tucker Company. “We expect this positive movement to continue into the first half of 2012 as well.”
Overall, sales prices for the nine-county Central Indiana area increased by 0.8 percent. Tucker’s data indicates that four counties experienced slightly higher home sales prices than in December 2010. Year-to-date, Madison County led the way with a 2.1 percent increase in home sales prices, while Hamilton, Johnson and Hancock counties also reported gains. Shelby County saw the largest decline of 3.3 percent. Hendricks, Morgan, Boone and Marion counties also experienced modest decreases. The average year-to-date sales price for a home in the nine-county area was $151,555. Of the pended homes in the region last month, 19 were priced $500,000 or more; 75 were priced $300,000 to $499,999; and 1,176 were priced at $299,999 or less.
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