Central Indiana home sales show slight improvement
Sales a percentage point off from July 2006

INDIANAPOLIS – Residential real estate in central Indiana is improving as the summer home-buying season comes to a close. Pended home sales in July were down by just 1 percent compared to July 2006. In July, 2,597 pended home sales were reported, a slight decrease from 2,633 during the same time last year, according to data compiled by F.C. Tucker Company.

More than half of the counties in the nine-county region posted higher pended sales than July 2006, with Shelby County showing the highest increase of 48.6 percent. Hancock County pended home sales rose 25.3 percent compared to July 2006. Home sales in Hendricks County dropped 29.9 percent from last year.

Although year-to-date home sales are down 5 percent, July’s statistics show that the local housing market is inching toward improvement. Further reinforcing the local market’s gradual upswing is this week’s report in Forbes Magazine that lists Indianapolis as the most affordable housing market in the U.S.

"Despite the national news about the sub-prime market meltdown, Indianapolis has not been impacted by that," said H. James Litten, president of F.C. Tucker Company's Residential Real Estate Services Division. "Real estate is regional and the recent Forbes report proves that most of those negative statistics are not affecting our market, thanks to our affordability and positive Indiana economy."

Pended single-family and condominium home sales

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County

August-06

August-07

% Change

2006 YTD

2007 YTD

% Change

Boone

71

83

16.9%

526

529

0.6%

Hamilton

533

505

-5.3%

3,814

3,496

-8.3%

Hancock

91

114

25.3%

638

653

2.4%

Hendricks

264

185

-29.9%

1,672

1,485

-11.2%

Johnson

186

199

7.0%

1,403

1,372

-2.2%

Madison

162

162

0.0%

1,043

1,038

-0.5%

Marion

1,210

1,206

-0.3%

9,494

9,069

-4.5%

Morgan

81

91

12.3%

617

569

-7.8%

Shelby

35

52

48.6%

305

320

4.9%

TOTAL

2,633

2,597

-1.4%

19,512

18,531

-5.0%

Available inventory in central Indiana continues to rise, up 4.9 percent from 2006. Madison County’s inventory dropped 10.6 percent in July while Marion County reported a 9.5 percent increase.

Active listings, Aug. 2006 vs. Aug. 2007

County

August - 06

August - 07

% Change

Boone

582

621

6.7%

Hamilton

3,138

3,297

5.1%

Hancock

730

728

-0.3%

Hendricks

1,507

1,589

5.4%

Johnson

1,488

1,435

-3.6%

Madison

1,442

1,289

-10.6%

Marion

9,878

10,812

9.5%

Morgan

706

692

-2.0%

Shelby

433

416

-3.9%

TOTAL

17,524

20,879

4.9%

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Editor's Note: All statistics were compiled by F.C. Tucker Company from a report drawn from MIBOR statistics on August 7, 2007.

F.C. Tucker Company is the largest real estate firm in Indiana and is ranked among the largest independent real estate firms in the nation. Its family of businesses includes a full range of real estate services – mortgages, title insurance, relocation services, a full line of insurance products, auctioning, homeowner services vendors and warranty products. Started in Indianapolis 87 years ago, Tucker has 47 statewide offices: 30 affiliate offices throughout Indiana and 17 Indianapolis-area offices.

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