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Central Indiana Pended Home Sales Continue Steady Growth
February Sales Climb More Than 4 Percent; YTD Sales Up Nearly 11 Percent
Coming off of a strong start in January, area home sales for the nine-county region in February continued to climb, with pended home sales up 4.3 percent compared with February 2005. For the month, 2,285 homes were sold, up from 2,191 during the same time period last year. Year-to-date sales also jumped. This year, 4,402 homes have been sold, a 10.7-percent increase over 2005.
“The central Indiana real estate market continues to be strong and steady,” H. James Litten, president of F.C. Tucker’s Residential Real Estate Services Division, said. “Home buyers and sellers are not shying away from the market, and with good reason. Real estate in the Indianapolis area continues to be a sound long-term investment.”
Hancock County led the way, with a 25.8-percent increase in February. Hendricks and Marion Counties both showed marked growth, with 10.7- and 6.9-percent increases, respectively. Only Hamilton and Johnson Counties experienced losses in February, dipping a modest 3.9 and 2.8 percent, respectively. Year to date, the nine-county region is performing well. Only Madison County has dropped in 2006, with a 5.0-percent decrease. Morgan and Hancock Counties are off to a strong start, up 26.0 and 21.0 percent on the year, respectively.
Single Family Homes
| Counties |
Feb '05 |
Feb '06 |
%Change |
'05 YTD |
'06 YTD |
%Change |
|
|
|
|
|
|
|
| Boone |
60 |
62 |
3.3% |
113 |
113 |
0.0% |
| Hamilton |
431 |
414 |
-3.9% |
760 |
776 |
2.1% |
| Hancock |
66 |
83 |
25.8% |
124 |
150 |
21.0% |
| Hendricks |
178 |
197 |
10.7% |
315 |
370 |
17.5% |
| Johnson |
179 |
174 |
-2.8% |
318 |
332 |
4.4% |
| Madison |
115 |
117 |
1.7% |
222 |
211 |
-5.0% |
| Marion |
1,040 |
1,112 |
6.9% |
1,916 |
2,199 |
14.8% |
| Morgan |
76 |
78 |
2.6% |
131 |
165 |
26.0% |
| Shelby |
46 |
48 |
4.3% |
76 |
86 |
13.2% |
| Total |
2,191 |
2,285 |
4.3% |
3,975 |
4,402 |
10.7% |
Nationally, pended home sales in January 2006 slipped 1.1 percent from the previous month and are down 4.8 percent from January 2005, according to the National Association of Realtors’ Pending Home Sales Index, released March 6. The Midwest was down 1.0 percent in January 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 March 7, 2006.
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