Indianapolis Market Watch for June 2009

2009 Two Central Indiana counties report increased sales in June

Available inventory in the nine-county region still low compared to 2008

INDIANAPOLIS– Nearly 2,300 Central Indiana homes pended in June, with two counties reporting increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company. Johnson County posted a 14.9 percent increase, and Marion County sales rose 4.9 percent.

June pended home sales in the nine-county area were down 1.4 percent with 2,298 homes pending compared to 2,330 in June 2008. Year to date, overall pended home sales are down 10.6 percent compared to the same timeframe in 2008.

Available homes for sale in the nine-county region dropped 17.5 percent in June 2009 with 16,152 homes on the market, 3,438 fewer homes than in June 2008. Two counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 22.4 percent, followed by Madison County with 19.1 percent.

“June home sales, down only 1.4 percent from last year, show a promising sign of a steady rebound of the local real estate market,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Also, we are seeing more prospective home buyers, especially in the first-time buyer category, come off the sidelines and take a look at available inventory.”

June housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across the nine-county Central Indiana region. The average year-to-date sales price for a home in the nine-county area was $135,408, 6.9 percent less than the same period last year. However, home sale prices have slowly increased from $118,438 in January 2009.

Active Listings – Inventory

County	June 08	June 09	% Change
Boone	647	616	-4.8%
Hamilton	3,363	2,914	-13.4%
Hancock	708	604	-14.7%
Hendricks	1,436	1,195	-16.8%
Johnson	1,411	1,284	-9.0%
Madison	1,169	946	-19.1%
Marion	9,796	7,605	-22.4%
Morgan	684	628	-8.2%
Shelby	376	360	-4.3%
TOTAL	19,590	16,152	-17.5%

Pended single-family and condominium home sales

County	June 08	June 09	Month-to-Month % Change	Year-to-date % Change
Boone	64	61	-4.7%	3.5%
Hamilton	475	426	-10.3%	-13.6%
Hancock	85	68	-20.0%	-15.7%
Hendricks	230	199	-13.5%	-10.0%
Johnson	174	200	14.9%	-5.2%
Madison	126	123	-2.4%	2.0%
Marion	1,072	1,124	4.9%	-11.6%
Morgan	69	64	-7.2%	-8.4%
Shelby	35	33	-5.7%	-26.4%
TOTAL	2,330	2,298	-1.4%	-10.6%

Active Listings over Time

Month	Active Listings	% Change from Prior Year
Jun-08	19,412	-6.6%
Jul-08	19,335	-7.4%
Aug-08	18,828	-10.9%
Sep-08	18,393	-12.2%
Oct-08	17,746	-12.7%
Nov-08	16,792	-13.0%
Dec-08	15,560	-14.3%
Jan-09	15,415	-14.5%
Feb-09	15,377	-14.3%
Mar-09	15,562	-15.6%
Apr-09	15,785	-16.9%
May-09	15,801	-18.0%
June-09	16,152	-17.5%

Average Sale Price

County	YTD June 08	YTD June 09	% Change
Boone	$256,825	$227,052	-11.6%
Hamilton	$249,021	$221,363	-11.1%
Hancock	$137,801	$128,369	-6.8%
Hendricks	$161,611	$160,662	-0.6%
Johnson	$147,226	$137,968	-6.3%
Madison	$75,780	$68,345	-9.8%
Marion	$105,132	$101,110	-3.8%
Morgan	$135,964	$121,595	-10.6%
Shelby	$100,442	$78,308	-22.0%
Average	$145,424	$135,408	-6.9%

Home Prices over Time

Month	YTD Average Sale Price	YTD % Change from Prior Year
Jan-09	$118,438	-12.6%
Feb-09	$120,880	-12.6%
Mar-09	$123,461	-12.4%
Apr-09	$123,813	-11.9%
May-09	$129,672	-9.5%
Jun-09	$135,408	-6.9%