Central Indiana home sales on the rise
Housing inventory on decline

INDIANAPOLIS – Home sales in central Indiana appear to be on the upswing with April pended sales up 8.9 percent from the same time last year. In April, 2,754 pended home sales were reported compared to 2,530 in April 2006. April statistics also show available inventory is on the decline. Inventory dropped from 6.5 percent in March to 4.8 percent in April.

Despite the spark in sales this month, the overall year-to-date total so far this year continues to lag behind 2006. At this time last year, pended home sales totaled 9,752. Year-to-date sales currently are 9,360, a 4 percent decline. "April sales indicate that our local housing market is gaining momentum," said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. "The statistics offer positive signs that our market is strengthening as we enter the busy home-buying season."

Madison County experienced the most significant sales increase last month, with pended home sales up 37.6 percent from April 2006. Growth was also shown in Morgan and Marion counties. Pended home sales in Morgan County rose 14.3 percent from last year; Marion County sales increased by 12.9 percent.

Boone and Shelby counties had the most significant declines this month with a 6.3 percent decrease compared to April 2006.

Year to date, Madison County shows the most significant increase over last year, with sales up 13 percent. Home sales in Morgan County are among the lowest in the area with a 15 percent decline compared to April 2006.

Pended single-family and condominium home sales

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County

March-06

March-07

% Change

2006 YTD

2007 YTD

% Change

Boone

79

74

-6.3%

269

276

2.6%

Hamilton

501

514

2.6%

1,833

1,689

-7.9%

Hancock

89

92

3.4%

343

329

-4.1%

Hendricks

216

213

-1.4%

803

745

-7.2%

Johnson

191

197

3.1%

757

713

-5.8%

Madison

125

172

37.6%

500

565

13.0%

Marion

1,204

1,359

12.9%

4,728

4,572

-3.3%

Morgan

77

88

14.3%

341

290

-15.0%

Shelby

48

45

-6.3%

178

181

1.7%

TOTAL

2,530

2,754

8.9%

9,752

9,360

-4.0%

Madison County experienced the most significant decline in available inventory, with a 14.8 percent decrease from this same time last year.

Active listings, April. 2006 vs. April. 2007

County

April 06

April 07

% Change

Boone

532

570

7.1%

Hamilton

2,993

3,069

2.5%

Hancock

678

692

2.1%

Hendricks

1,472

1,443

-2.0%

Johnson

1,353

1,400

3.5%

Madison

1,403

1,195

-14.8%

Marion

9,031

9,942

10.1%

Morgan

639

654

2.3%

Shelby

358

385

7.5%

TOTAL

18,459

19,350

4.8%

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Editor's Note: All statistics were compiled by F.C. Tucker Company from a report drawn from MIBOR statistics on May 9, 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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