Central Indiana October home sales show some areas of improvement

INDIANAPOLIS – While central Indiana pended home sales continue to fall behind last year’s levels, some counties are showing improvement in home sales and less available inventory, according to data compiled by F.C. Tucker Company.

October pended home sales overall were 12.1 percent less than October 2006. Specific county highlights include Boone County, where October pended home sales rose 27.9 percent compared to the same time last year, and Johnson County, where October pended home sales increased 0.6 percent over last year. By comparison, Shelby County posted the most significant drop in pended home sales in October with a 36.2 percent decrease.

"Although there were some bright spots in October, we are hoping we continue to make progress in reaching normal sales levels," said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. "Our above-average home sales success over the past few years is now balancing out, so homeowners are seeing the natural low that comes from such a historic high."

Year-to-date real estate sales totals for the nine-county area continue to lag somewhat behind 2006 statistics. So far this year, 25,055 homes have been sold compared to 27,115 during the same time last year, down 7.6 percent. For the second straight month, year-to-date sales in Hancock County are above 2006 figures, up 0.8 percent at the end of October.

On an inventory level basis, Morgan County’s inventory balanced out in October at 666 homes, the same number of homes available in October 2006. Shelby County’s available inventory decreased 6.5 percent in October; Marion County’s inventory rose 9.9 percent.

Pended single-family and condominium home sales
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County

Oct-06

Oct-07

% Change

2006 YTD

2007 YTD

% Change

Boone

61

78

27.9%

744

741

-0.4%

Hamilton

437

373

-14.6%

5,182

4,706

-9.2%

Hancock

74

67

-9.5%

866

873

-0.8%

Hendricks

190

152

-20.0%

2,268

2,042

-10.0%

Johnson

173

174

0.6%

1,973

1,868

-5.3%

Madison

149

148

-0.7%

1,493

1,437

-3.8%

Marion

1,170

1,007

-13.9%

13,257

12,152

-8.3%

Morgan

88

72

-18.2%

874

793

-9.3%

Shelby

47

30

-36.2%

458

443

-3.3%

TOTAL

2,389

2,101

-12.1%

27,115

25,055

-7.6%

 

Active listings, Oct. 2006 vs. Oct. 2007

County

Oct-06

Oct-07

% Change

Boone

566

602

6.4%

Hamilton

3,016

3,049

1.1%

Hancock

696

715

2.7%

Hendricks

1.437

1,488

3.5%

Johnson

1,373

1,384

0.8%

Madison

1,325

1,207

8.9%

Marion

9,564

10,507

9.9%

Morgan

666

666

0.0%

Shelby

432

404

-6.5%

TOTAL

19,075

20,022

5.0%

# # #

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