September homes sales show areas of improvement

INDIANAPOLIS – Residential real estate sales in central Indiana have fallen below last year’s levels, according to data compiled by F.C. Tucker Company, but some counties are showing improved buyer interest.

Year-to-date totals for the nine-county area show 22,933 homes have been sold or are pending, 7.3 percent less than 24,727 in 2006.

While September 2007 pended sales are down 16.8 percent, statistics by county show some areas posted major gains. Sales in Hancock County are up 20 percent from September 2006 and year-to-date sales in the county are up 1 percent. Madison County posted a 29.5 percent increase in September 2007 pended sales and is only 3 percent shy of its year-to-date total through September 2006.

"While September is certainly not our greatest month, overall the central Indiana real estate market is still only 7.3 percent down from 2006’s year-to-date numbers," said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division.

"Central Indiana’s housing market is continuing to balance out. Inventory levels are still increasing slightly, but we are hopeful that the decline in new home construction and the steady pace of existing homes sales will be reflected in sales statistics in coming months."

Pended single-family and condominium home sales

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County

Sept-06

Sept-07

% Change

2006 YTD

2007 YTD

% Change

Boone

75

43

-42.7%

683

660

-3.4%

Hamilton

405

344

-15.1%

4,744

4,313

-9.1%

Hancock

60

72

20.0%

792

800

1.0%

Hendricks

185

156

-15.7%

2,078

1,861

-10.4%

Johnson

182

133

-26.9%

1,801

1,683

-6.6%

Madison

122

158

-29.5%

1,344

1,304

-3.0%

Marion

1,245

996

-20.0%

12,099

11,185

-7.5%

Morgan

81

61

-24.7%

786

719

-8.5%

Shelby

47

35

-25.5%

411

408

-0.7%

TOTAL

2,402

1,998

-16.8%

24,757

22,933

-7.3%

Available inventory in September is up 4.9 percent from September 2006. Available homes in Madison was down 10.7 percent; Marion County posted the most inventory with 9.6 percent more than was available in September 2006.

Active listings, Sept. 2006 vs. Sept. 2007

County

Sept - 06

Sept - 07

% Change

Boone

574

615

7.1%

Hamilton

3,123

3,165

1.3%

Hancock

697

721

3.4%

Hendricks

1,467

1,556

6.1%

Johnson

1,429

1,447

1.3%

Madison

1,387

1,238

-10.7%

Marion

9,885

10,838

9.6%

Morgan

701

680

-3.0%

Shelby

429

395

-7.9%

TOTAL

19,692

20,655

4.9%

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Editor's Note: All statistics were compiled by F.C. Tucker Company from a report drawn from MIBOR statistics on October 10, 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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