Hamilton County Housing Activity Increases

Home sales and prices were on the rise in Hamilton County during February to April 2010, according to statistics released today by the Metropolitan Indianapolis Board of REALTORS®. During the February to April 2010, units sold increased 23 percent, when compared to the same period in 2009. In six- and twelve-month comparisons, units sold increased by 19 percent and 8 percent, respectively.

“It is encouraging to see double digit increases in all the key areas for the last three months,” said Sue Applegate, 2010 MIBOR president. “The federal tax credit deadline most likely attributed to a surge of home sales in April, so looking at the six- and 12-month windows help give an even more accurate picture of the whole real estate market.”

Months of supply in Hamilton County decreased to 6.9 months – the lowest in central Indiana – in April 2010, down from 8.4 months in 2009.

Examining central Indiana as a whole, total home sales, sales volume, average sale price and median sale price increased during the three-, six- and 12-month comparisons. In the three-month outlook, units sold and units pended increased 11 percent and 25 percent, respectively, when compared to the same period in 2009. In a six-month comparison, units sold and units pended increased by 10 percent and 15 percent, respectively. A 12-month comparison shows units sold and units pended increased by 4 percent and 10 percent, respectively.

Additional key local findings:

• Hamilton County average sale price increased 10 percent during February to April 2010, decreased 5 percent during the six-month period ending in April and remained the same as the previous year.
  
• Months of available supply in the 13-county area decreased for homes priced up to $750,000
  
• Months of supply in central Indiana, regardless of price point, was down to 8.2 months in April 2010 compared to 9.1 months in April 2009
  
• New listings in central Indiana during the three-month period increased by 19 percent from the same period in 2009
  
• Central Indiana total sales volume increased 26 percent to $835 million in the three-month outlook, while average and median sale price increased 14 and 12 percent, respectively, during February to April 2010. In a 12-month comparison, total sales volume increased 7 percent to $3.62 billion, while average and median sale price both increased 3 percent.