Central Indiana Mid-Year 2005 Home Sales Statistics
Sales prices up by 4.0 percent from first half of 2004

Sales prices for homes in Marion County and the surrounding eight counties for the first-half of 2005 were up 4.0 percent from the same time period in 2004. The average sales price for the nine-county region was $153,013 up from $147,150. The total number of homes sold in central Indiana decreased slightly (0.9 percent) during the first half of the year, going from 14,652 in 2004 to 14,521 homes sold in the first half of 2005.

“These statistics reflect the continuing demand for residential real estate in central Indiana,” said H. James Litten, president of F.C. Tucker's Residential Real Estate Division. “Even with the slight upward movement in interest rates and prices, Hoosier home buyers are still willing to pay for the value and quality of life that home ownership affords.”

Hamilton County led in price with an average sales price of $242,491, while Madison County had the most affordable housing, with an average sales price of $90,569. For the first half of the year, Johnson County sellers experienced the largest increase in average sales price (10.6 percent). All nine counties experienced an increase in average sales price during the first six months of 2005.

AVERAGE SELLING PRICE
COUNTY 2004 2005 % Change
Boone $222,590 $230,873 3.7%
Hamilton $237,096 $242,491 2.3%
Hancock $149,440 $152,375 2.0%
Hendricks $157,849 $164,467 4.2%
Johnson $138,079 $152,758 10.6%
Madison $88,049 $90,569 2.9%
Marion $118,716 $122,923 3.5%
Morgan $128,039 $137,851 7.7%
Shelby $101,814 $109,025 7.1%
TOTAL $147,150 $153,013 4.0%


Number of homes sold:
More homes were sold in Marion County than in any other central Indiana county, but Hancock County had the largest percentage increase in homes sales (4.7 percent) from the same time period last year. Shelby County had the fewest home sales during the first half of the year, representing the most significant decline among the nine counties (18.1 percent).

NUMBER OF HOMES SOLD
COUNTY 2004 2005 % Change
Boone 392 400 2.0%
Hamilton 2,719 1,667 -1.9%
Hancock 469 491

4.7%
Hendricks 1,123 1,165 3.7%
Johnson 1,087 1,096 .08%
Madison 811 749 -7.6%
Marion 7,248 7,211 -0.5%
Morgan 483 480 -0.6%
Shelby 320 262 -18.1%
TOTAL 14,652 14,521 -0.9%

“Home sales for 2005 continue to be strong,” Litten said. “This represents buyers' confidence with the economy and the Indiana housing market. We expect to maintain a strong market throughout 2005.”

Days on market:

Central Indiana homes spent an average of 79 days on the market during the first half of 2005, consistent with last year. Homes in Hamilton County continue to sell most quickly (70 days), while homes in Madison County had the highest average number of days on the market (105 days).

AVERAGE NUMBER OF DAYS ON THE MARKET
COUNTY 2004 2005 % Change
Boone 82 84 2.4%
Hamilton 68 70 2.9%
Hancock 82 89

8.5%
Hendricks 85 79 -7.1%
Johnson 78 76 -2.6%
Madison 96 105 9.4%
Marion 78 78 0.0%
Morgan 94 93 -1.1%
Shelby 79 84 6.3%
TOTAL 79 79 0.0%

The size of homes being sold also is going up in 2005. “We continue to hear about smaller homes with more amenities, but the average square footage of homes sold in the Indianapolis area went up during the first half of 2005,” said Litten. “While the increase is slight it is worth watching to see if this market continues to buck the national trend.”

AVERAGE SQUARE FOOTAGE OF HOMES SOLD
COUNTY 2004 2005  
Boone 2,572 2,636  
Hamilton 2,865 2,862  
Hancock 2,069 2,085  
Hendricks 2,095 2,187  
Johnson 1,903 2,028  
Madison 1,663 1,651  
Marion 1,901 1,914  
Morgan 1,959 2,011  
Shelby 1,678 1,775  
TOTAL 2,102 2,131  

>>Back to News Room

 

Editor's Note: Data was compiled by F.C. Tucker Company based on statistics drawn from the Metropolitan Indianapolis Board of Realtors (MIBOR) on August 10, 2005.