Central Indiana Pended Home Sales Increase Nearly 5%
Shelby , Madison and Hancock Counties show significant increase from previous year

Pended home sales (signed real estate agreements) year to date and in November 2005 both increased nearly 5 percent in Marion County and the surrounding eight counties. Although home sales tend to slow down during colder months, pended home sales were 4.7 percent higher than the same month last year. November pended sales equaled 2,088 homes, a 93-home increase from November 2004. Year-to-date sales increased 4.8 percent across central Indiana .

“We're seeing the market temper a little, but 5-percent growth on the year and for the month is solid,” H. James Litten, president of F.C. Tucker's Residential Real Estate Services Division, said. “There's still a lot of momentum from the strong real estate market we experienced throughout the year.”

Shelby County experienced a striking increase, 40.0 percent, from November 2004 to November 2005. Madison and Hancock Counties also experienced high activity this month, increasing 23.7% and 15.4%, respectively. Hendricks County leads the region in year-to-date sales increases for the 11 th straight month (11.0 percent). The biggest monthly downturn was in Johnson County (9.2 percent); Shelby County decreased the most, year to date (7.7 percent).

Homes Sold

Counties
Oct '04
Oct '05
%Change
'04 YTD
'05 YTD
%Change
Boone
66
61
-7.6%
780
805
3.2%
Hamilton
348
354
1.7%
5,395
5,548
2.8%
Hancock
65
75
15.4%
975
988
1.3%
Hendricks
162
155
-4.3%
2,142
2,377
11.0%
Johnson
153
139
-9.2%
2,090
2,211
5.8%
Madison
93
115
23.7%
1,548
1,545
-0.2%
Marion
1,013
1,080
6.6%
13,906
14,704
5.7%
Morgan
60
60
0.0%
896
953
6.4%
Shelby
35
49
40.0%
581
536
-7.7%
Total
1,995
2,088
4.7%
28,313
29,667
4.8%

Nationally, pended home sales in October decreased from September. The National Association of Realtors' Pending Home Sales Index, released Dec. 6, showed pended sales 3.2 percent lower than October 2004. The Midwest was down 6.3 percent in October 2005 and was 10.2 percent below October 2004.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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Editor's Note: All statistics were compiled by F.C. Tucker Company from a report drawn from MIBOR statistics on December 8, 2005.