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Central Indiana Pended Home Sales Show Market Stability
March sales up 3.6%; Madison County leads with 20% jump
Area pended home sales rose for the fourth straight month this year, with March sales up 3.6 percent compared with the same month last year. Over 100 more homes were sold last month – 2,915 versus 2,813 in March 2005. Year-to-date home sales also continue to rise. The nine-county central Indiana region is up 7.5 percent on the year, with 506 more homes sold this year than last.
“Central Indiana has a consistently stable housing market, and the numbers continue to show that,” said H. James Litten, president of F.C. Tucker’s Residential Real Estate Services Division. “Now that it’s officially spring, we will likely see activity begin to pick up, as families begin to tour neighborhoods and the school year begins to wrap up.”
Madison County showed the most significant activity in March, with home sales up 19.7 percent compared with March 2005. Marion and Morgan Counties also had strong showings, increasing 8.6 and 7.7 percent, respectively. Hancock County experienced a marked decline, slumping 17.2 percent. Shelby County also dipped, with a 10.6-percent decrease last month. Year to date, every county except Hamilton is experiencing an increase, with a total of 7.5 percent through March. Hamilton County is down only slightly at a tenth of a percent.
| Counties |
Mar '05 |
Mar '06 |
%Change |
'05 YTD |
'06 YTD |
%Change |
|
|
|
|
|
|
|
| Boone |
78 |
80 |
2.6% |
191 |
197 |
3.1% |
| Hamilton |
539 |
513 |
-4.8% |
1,299 |
1,298 |
-0.1% |
| Hancock |
122 |
101 |
-17.2% |
246 |
251 |
2.0% |
| Hendricks |
227 |
221 |
-2.6% |
542 |
586 |
8.1% |
| Johnson |
222 |
228 |
2.7% |
540 |
560 |
3.7% |
| Madison |
157 |
188 |
19.7% |
379 |
398 |
5.0% |
| Marion |
1,330 |
1,444 |
8.6% |
3,246 |
3,617 |
11.4% |
| Morgan |
91 |
98 |
7.7% |
222 |
258 |
16.2% |
| Shelby |
47 |
42 |
-10.6% |
123 |
129 |
4.9% |
| Total |
2,813 |
2,915 |
3.6% |
6,788 |
7,294 |
7.5% |
Showing market stability nationally, pended home sales in February 2006 dipped only 0.8 percent from the previous month and are down 5.2 percent from February 2005, according to the National Association of Realtors’ Pending Home Sales Index, released April 3. The Midwest was down a full 6 percent in February 2006 versus the year prior.
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Editor's Note: All statistics were compiled by F.C. Tucker Company from a report drawn from MIBOR statistics on April 7, 2006.
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