Ryan Hart

Four Central Indiana counties report increased sales

August 2009 pended home sales match sales in August 2008

INDIANAPOLIS – More than 2,200 Central Indiana homes pended in August, with four counties reporting increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company.

August pended home sales in the nine-county area were down only 0.1 percent overall with 2,213 homes pended compared to 2,216 in August 2008. Johnson County posted a 17.8 percent increase, followed by Hancock County at 15.4 percent and Marion and Hamilton counties with 5.9 percent and 0.9 percent increase, respectively. Year to date, overall pended home sales are down 7.5 percent compared to the same timeframe in 2008.

Available homes for sale in the nine-county region dropped 16.3 percent in August 2009 with 16,068 homes on the market, 3,130 fewer homes than in August 2008. Two counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 20.0 percent, followed by Hancock County with 18.6 percent.

August housing statistics point to continued opportunities for buyers to take advantage of slightly 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 $138,748, 5.5 percent less than the same period last year.

“August home sales, virtually the same as last year, reflect the positive and steady rebound of the local real estate market,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Attractive home prices, low interest rates and a first-time home buyer credit have made housing more affordable than it has been in the last two decades.”

Active Listings – Inventory

Pended single-family and condominium home sales

Active Listings over Time

Average Sale Price

2009 Three counties show improvement in Central Indiana housing market

July statistics point to areas with improved sales, overall shrinking inventory

INDIANAPOLIS– While overall pended home sales remain lower on a month-to-month and year-to-date basis in Central Indiana, three Indianapolis-area counties reported higher sales than the same time last year, according to pended sales statistics compiled by F.C.Tucker Company.

July pended home sales in the nine-county area were down 3.1 percent overall with 2,267 homes pending compared to 2,339 in July 2008. Johnson County posted a 1.3 percent increase, followed by Marion County and Hamilton County, with 1.1 percent and .7 percent increase, respectively. Year to date, overall pended home sales are down 9.1 percent compared to the same time frame in 2008.

Housing inventory in Central Indiana continued to drop in July with 16,223 homes on the market in the nine-county region, 3,267 fewer homes than in July 2008 – a 16.8 percent decrease overall in inventory. Marion County was the only county to experience above average inventory declines with a 21.5 percent decrease.

“While the Central Indiana real estate market continues to stabilize and improve, I believe the momentum we’ve gained in the past few months will carry through to the end of the year,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “The economy is picking up, and we’re seeing the light at the end of the tunnel.”

Average year-to-date home sale prices, down 11.8 percent from the July 2008 year-to-date figures, have shown a steady improvement since January 2009. In January 2009, the average year-to-date home sale price was $118,438; in July 2009, it was $136,943.

A recent USA Today survey indicated two-thirds of economists believe existing-home sales have hit bottom. Also, consumer spending has stabilized. Such signals are prompting 37 percent of economists to predict a moderate or fast recovery.

Active Listings –Inventory

County	July 08	July 09	% Change
Boone	649	615	-5.2%
Hamilton	3,307	2,851	-13.8%
Hancock	722	626	-13.3%
Hendricks	1,437	1,230	-14.4%
Johnson	1,405	1,295	-7.8%
Madison	1,140	963	-15.5%
Marion	9,772	7,673	-21.5%
Morgan	665	608	-8.6%
Shelby	393	362	-7.9%
TOTAL	19,490	16,223	-16.8%

Pended single-family and condominium home sales

County	July 08	July 09	Month-to-Month % Change	Year-to-date % Change
Boone	88	74	-15.9%	-0.6%
Hamilton	455	458	0.7%	-10.1%
Hancock	74	63	-14.9%	-17.3%
Hendricks	192	189	-1.6%	-7.4%
Johnson	157	159	1.3%	-4.0%
Madison	156	116	-25.6%	-4.0%
Marion	1,085	1,097	1.1%	-9.9%
Morgan	89	74	-16.9%	-8.5%
Shelby	43	37	-14.0%	-24.6%
TOTAL	2,339	2,267	-3.1%	-9.1%

Active Listings over Time

Month	Active Listings	% Change from Prior Year
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%
Jun-09	16,152	-17.5%
Jul-09	16,223	-16.8%

Average Sale Price

County	YTD July 08	YTD July 09	% Change
Boone	$257,359	$224,708	-12.7%
Hamilton	$251,116	$224,758	-10.5%
Hancock	$140,076	$129,801	-7.3%
Hendricks	$161,859	$159,435	-1.5%
Johnson	$147,717	$137,560	-6.9%
Madison	$77,603	$70,356	-9.3%
Marion	$106,589	$101,822	-4.5%
Morgan	$135,201	$122,492	-9.4%
Shelby	$103,174	$79,466	-23.0%
Average	$155,240	$136,943	-11.8%

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%
Jul-09	$136,943	-11.8%

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%

2009 Two Central Indiana counties report increased sales in May

Available inventory in the nine-county region continues to drop

INDIANAPOLIS – More than 2,200 Central Indiana homes pended in May, with two counties reporting increases compared to the same time period last year, according to pended sales statistics compiled by F.C. Tucker Company. Boone County posted a 32.4 percent increase, and Madison County sales rose 2.5 percent.

May pended home sales in the nine-county area were down 11 percent with 2,227 homes pending compared to 2,501 in May 2008. Year to date, overall pended home sales are down 12.8 percent compared to the same time frame in 2008.

Available homes for sale in the nine-county region dropped 18 percent in May 2009 with 15,801 homes on the market, 3,458 fewer homes than in May 2008. Four counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 23.7 percent, followed by Madison County with 19.2 percent and Hancock and Hendricks counties with 18.3 and 18.2 percent, respectively.

“Home inventory levels have consistently dropped over the past 12 months, and we’re nearing a balanced, six-month inventory level,” said John Snavley, Senior Vice President of F.C.Tucker Company. “At current pricing levels, with new homebuyer incentives and low mortgages rates, this is an excellent time to buy a home in Central Indiana.”

Even national pundits are stressing that in today’s real estate market, now is the time to buy. Recently, CNBC Mad Money host Jim Cramer commented on the nation’s state of th eeconomy and real estate market, saying “I think that real estate is a once-in-a-lifetime opportunity… mortgage rates are the lowest in my life, affordability is the best in my life. Clearly, real estate is much better than stocks right now.”

Active Listings -Inventory

Pended single-family and condominium home sales

Active Listings over Time

Average Sale Price

2009 Decreasing home inventory nearing six-month supply

$8,000 tax credit encouraging first-time homebuyers to get off sidelines

INDIANAPOLIS – April housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across Central Indiana, while a decrease in available inventory shows steady progress to a more balanced market between buyers and sellers, according to pended sales statistics compiled by F.C. Tucker Company.

Available homes for sale in the nine-county region dropped 16.9 percent in April 2009 with 15,785 homes on the market, 3,211 fewer homes than in April 2008. Three counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 22.8 percent, followed by Madison County with 20.8 percent and Hancock County with 17.6 percent.

Home sales continue to trail last year’s levels. Madison County posted the only increase in pended home sales over April 2008 at 18.5 percent. In April, 2,272 homes have pended, 10.8 percent less than the same time in 2008. The average sales price is down 11.9 percent from April 2008, decreasing from $140,477 to $123,813.

A recent poll of Tucker sales associates showed 62 percent of their customers were first-time buyers prompted by the $8,000 federal tax credit. The first-time homebuyer’s credit includes no repayment and credit recapture on the sale within three years of purchase.

Active Listings -Inventory

Pended single-family and condominium home sales

Active Listings over Time

Average Sale Price