F.C. Tucker Market Watch

Home prices climb an average of 8.9 percent in Central Indiana
Overall year-to-date pended home sales dip slightly

INDIANAPOLIS – The average sales price for homes in the nine-county Central Indiana region is up 8.9 percent year to date, because the mix of sales has changed, according to sales statistics compiled by F.C. Tucker Company. More homes at $300,000 and above have sold, reflecting the uptick in prices. At the same time, however, pended homes sales are down slightly at 2 percent lower for the year compared to 2009.

Central Indiana homes sold for an average price of $148,649 for the first seven months of the year, a healthy increase of $12,102 over the 2009 year-to-date sales price. Shelby County reported the biggest home price gain at 21.6 percent, while Marion County also posted double digit gains at 13.2 percent.

On a monthly basis, pended home sales were off -27.4 percent in July 2010 compared to July 2009, although Shelby County posted an increase with a 17.2 percent upsurge. Year-to-date pended sales figures are tracking more in line with 2009, with Boone, Hancock and Shelby counties all registering positive gains in pended home sales, while Hamilton, Johnson and Morgan counties’ pended sales are on par with pended sales from the same period in 2009.
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