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 threeCentral Indianacounties 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,ShelbyCountysaw 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 withJohnsonCountyexperiencing the greatest decrease in inventory at 25.4 percent.MorganCounty’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 acrossCentral 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-countyCentral Indianaarea 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.ShelbyCountysaw 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.

 

Quick Links:

Pended single-family and condominium home sales

Active Listings – Inventory

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Pended single-family and condominium home sales

 

Active Listings – Inventory

 

  

Average Sale Price

 

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Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on January 7, 2012. 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 $2.1 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with more than 40 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.

 

 

 

 

This entry was posted on Wednesday, January 18th, 2012 at 4:53 pm and is filed under Central Indiana Market Watch. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.