September pended home sales up 12 percent in Central Indiana

INDIANAPOLIS – More than 2,100 Central Indiana homes pended in September, with seven 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.

September home sales increased 12 percent overall with 2,160 homes pended compared to 1,929 in September 2008. Madison County posted a 37.5 percent increase, followed by Hendricks County at 29.6 percent and Hancock County at 27.4 percent. Year to date, overall pended home sales are down 5 percent compared to the same timeframe in 2008.

"First-time home buyers continue to drive our local housing recovery, and last month in particular, we noticed a marked increase in open house traffic," said H. James Litten, president of F.C. Tucker Company's Residential Real Estate Services Division. "Low home prices and the tax credit for first-time home buyers make it a great time to buy a house in Central Indiana."

Available homes for sale in the nine-county region dropped 15.7 percent in September 2009 with 15,786 homes on the market, 2,937 fewer homes than in September 2008. Three counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 19.2 percent, followed by Hancock County and Madison County, with 17.9 and 14.5 percent, respectively.

September housing statistics point to continued opportunities for buyers to take advantage of slightly lower housing prices across the nine-county Central Indiana region. The average year-to-date sales price for a home in the nine-county area was $138,815, which is 5 percent less than the same period last year.

Realtors remind consumers that the deadline to qualify for the federal first-time home buyer tax credit is November 30. That means buyers have to agree to terms soon to get deals closed by the deadline. For additional information, visit www.fctucker.com.

Pended single-family and condominium home sales
County Sept. 08 Sept. 09 % Change Year-to-Date % Change

Boone

62

69

11.3%

1.7&

Hamilton

368

375

1.9%

 -6.0%

Hancock

62

79

27.4%

 -8.0%

Hendricks

152

197

29.6%

 -3.9%

Johnson

144

159

10.4%

 1.7%

Madison

104

143

37.5%

 -2.6%

Marion

920

1,043

13.4%

 -5.3%

Morgan

74

59

-20.3%

 -10.8%

Shelby

43

36

-16.3%

 -23.7%

TOTAL

1,929

2,160

12.0%

 -5.0%

Active listings - Inventory
County Sept.
08 		Sept.
09

 % Change

Boone

638

581

-8.9%

Hamilton

3,106

2,777

-10.6%

Hancock

708

581

-17.9%

Hendricks

1,369

1,171

-14.5%

Johnson

1,377

1,218

-11.5%

Madison

1,130

932

-17.5%

Marion

9,342

7,549

-19.2@

Morgan

654

611

-6.6%

Shelby

399

366

-8.3%
TOTAL

18,723

15,786

-15.7%


Active listings - Over Time
Month Active Listings % Change

Sep-08

18,393

-12.2%

Oct-08

17,746

-12.7%
Nov-08

16,792

-13.0%
Dec-08 15,560 -14.3%
Jan-09 15,415 -14.5%
Feb-09 15,377 -14.3%
Mar-09 15,562 -15.6%
Apr-09 15,785 -16.9%
May-09 15,801 -18.0%
June-09 16,152 -17.5%
July-09 16,223 -16.8%
Aug-09 16068 -16.3
Sep-09 15,786 -15.7%

Average Sales Price
County YTD July 08 YTD July 09 % Change

Boone

$244,639

$224,281

-8.3%

Hamilton

$246,774

$226,671

 -8.1%

Hancock

$137,773

$134,751

 -2.2%

Hendricks

$160,423

$158,044

 -1.5%

Johnson

$146,423

$140,433

 -4.1%

Madison

$78,033

$72,425

 -7.2%

Marion

$106,859

$103,355

 -3.3%

Morgan

$133,230

$124,133

 -6.8%

Shelby

$101,080

$85,347

 -15.6%

TOTAL

$146,070

$138,815

 -5.0%

# # #

Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on Oct. 7, 2009. 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 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.

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