Central Indiana Pended Home Sales Off To A Strong Start in 2006
Sales up nearly 19 percent on the year; only two counties post a decline in January

Impacted by the mild weather Indianapolis experienced in January, pended home sales (signed real estate agreements) increased nearly 19 percent in Marion County and the surrounding eight counties when compared to the same month last year. January (and year-to-date) pended sales equaled 2,114 homes, a 331-home increase from January 2005.

“Despite traditionally slower winter months for the real estate market, this January was remarkably strong,” H. James Litten, president of F.C. Tucker’s Residential Real Estate Services Division, said. “This speaks to the strength and stability of the Indianapolis market. Even as other markets begin to see price decreases and more days on the market, Indianapolis continues its solid growth.”

Marion, Morgan and Shelby Counties experienced marked increases: 25.6 percent, 50.9 percent and 26.7 percent, respectively, from January 2005 to January 2006. Hancock and Hendricks Counties, too, showed notable jumps (19.0 percent and 20.4 percent). Only Boone and Madison Counties experienced decreases. Boone dropped 9.4 percent, while Madison declined slightly more at 10.3 percent.

 

Single Family Homes

Counties
Jan '05
Jan '06
%Change
'05 YTD
'06 YTD
%Change
Boone
53
48
-9.4%
53
48
-9.4%
Hamilton
328
358
9.1%
328
358
9.1%
Hancock
58
69
19.0%
58
69
19.0%
Hendricks
137
165
20.4%
137
165
20.4%
Johnson
139
157
12.9%
139
157
12.9%
Madison
107
96
-10.3%
107
96
-10.3%
Marion
876
1,100
25.6%
876
1,100
25.6%
Morgan
55
83
50.9%
55
83
50.9%
Shelby
30
38
26.7%
30
38
26.7%
Total
1,783
2,114
18.6%
1,783
2,114
18.6%

Nationally, pended home sales in December 2005 decreased 3.0 percent from the previous month and are down 5.5 percent from December 2004, according to the National Association of Realtors’ Pending Home Sales Index, released Feb. 1. The Midwest was down 9.3 percent in December 2005 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 February 7, 2006.