Recently in Real Estate Market Category

Overall, the news for the Village of West Clay continues to be encouraging.  We are seeing the price range for sold homes continue to creep upward while the number of distressed home sales is staying low.

We finished October with 60 homes for sale in the Village of West Clay with prices ranging from $51,725 - $2,550,000.  These homes range from $53/sq. ft. to $460/sq. ft.  The average for sale price is $595,000 and the average price per sq. ft. is $177.  As you can see by these numbers, there continues to be a wide variety in both types of homes and price range in the Village.  6 of the homes on the market currently are considered distressed in some way.  The average number of days these homes have been on the market is a whopping 159 days.  However, that number is disproportionally affected by the homes in the ultra-luxury market over $1,000,000.  When those are taken out, the days on market falls to a much more reasonable 80 days.

12 homes pended in the month of October with list prices ranging from $194,900 - $1,850,000.  The average list price for these pended homes was $761,842.  This average list price is higher than we've seen in the past few months, but we haven't seen a sale like the $1,850,000 list price in a while either, so that list price brings the average up significantly.  Of the pended properties, one was a distressed sale and represents a trend in the Wentworth condos of diminishing sale prices with a pended list price of $60,000.

5 homes sold in the month of October.  Sold prices ranged from $60,000 - $715,000, with the average sold price being $349,860.  The average sold price per sq. ft. is $132, which represents a significant difference from the average list price per sq. ft. of $177.  These homes sold for in an average of 69 days.  The detached homes sold for an average of 94% of list price while the condos sold for an average of 80% of list price.

Curious about your neighborhood or your home in the Village of West Clay?  Send me an email at angela@raabhomes.com or call me on my direct line at 317.442.4295!

Central Indiana home sales up more than 5 percent in September
        -Inventory tightens by 13.6 percent, while sales prices are up year-to-date over 2010

More than 1,600 homes pended in September, with all but three Central
Indiana counties reporting increased sales compared to the same time period last year,
according to sales statistics compiled by F.C. Tucker Company. Overall, September 2011
pended home sales rose 5.1 percent over September 2010, an increase of 80 homes sold
in the nine counties that F.C. Tucker tracks.   
 
The largest increases in pended home sales in September were seen in Morgan and
Hendricks counties with 28 and 14.8 percent increases over September 2010, respectively.
The largest decline in pended home sales was seen in Shelby County, with a 35.7 percent
decrease, representing 15 fewer homes sold in September 2011 compared to September
2010. Boone and Johnson counties also saw decreases of 13 and 9 percent respectively. 
 
Available homes for sale in the nine-county region dropped 13.6 percent in September 2011
with 14,595 homes on the market, 2,299 fewer than in September 2010. All nine Central
Indiana counties experienced varying inventory declines with Johnson County experiencing
the greatest decrease in inventory at 21.4 percent. Hancock County's inventory was the
most stable, down just 5 percent.   
 
Overall, sales prices for the nine-county Central Indiana area increased by 1.8 percent.
Tucker's data indicates that seven counties experienced slightly higher home sales prices
than in September 2010. Year-to-date, Madison County led the way with a 2.7 percent
increase in home sales prices, while Boone, Hamilton, Hancock, Johnson, Marion and
Shelby counties also reported gains. Morgan and Hendricks counties both saw declines of
2.7 and 2.6 percent, respectively. The average year-to-date sales price for a home in the
nine-county area was $152,554. Of the pended homes in the region last month, 37 were
priced $500,000 or more; 117 were priced $300,000 to $499,999; and 1,480 were priced at
$299,999 or less.
 
"With fewer homes on the market, we expect to see some upward price adjustment as
demand increases," said Jim Litten, president of F.C. Tucker Company. "We are seeing
greater movement in homes priced at $499,999 and less, in part due to historically low
mortgage rates."
 

Central Indiana home sales up more than 7 percent in August
        Inventory tightens by 12.3 percent, while sales prices are up year-to-date over 2010

Nearly 1,900 homes pended in August, with all but one Central Indiana
county reporting increased sales compared to the same time period last year, according to
sales statistics compiled by F.C. Tucker Company. Overall, August 2011 pended home
sales rose 7.4 percent over August 2010, an increase of 131 homes sold in the nine
counties that F.C. Tucker tracks.   
 
The largest increases in pended home sales in August were seen in Hancock and Shelby
counties with 33.3 and 32.3 percent increases over August 2010, respectively. Only Morgan
County saw a decrease in pended home sales, a 4.2 percent decrease from August 2010.
Overall, homes sales are still down year-to-date by 4.2 percent, but that number has been
decreasing over the past four months. This decrease is due in part to the market adjustment
to last year's homebuyer tax credit, which encouraged first-time homebuyers to buy before
April 30, 2010
 
"Since May, we have seen an overall increase in pended sales when comparing one month
in 2011 to the same month in 2010, said Jim Litten, president of F.C. Tucker. "This is a
continuation of the predicted gradual market stabilization, which is encouraging."
 
Another stabilizing factor is a decrease of homes on the market. Available homes for sale in
the nine-county region dropped 12.3 percent in August 2011 with 15,208 homes on the
market, 2,132 fewer than in August 2010. All nine Central Indiana counties experienced
varying inventory declines with Madison County experiencing the greatest decrease in
inventory at 17.1 percent. Hancock County's inventory was the most stable, down just 1.4
percent.  
 
Overall, sales prices for the nine-county Central Indiana area increased by 1.6 percent.
Tucker's data indicates that six counties experienced higher home sales prices than in
August 2010, year-to-date. Shelby County led the way with a 4.9 percent increase in home
sales prices year-to-date, while Madison, Hancock, Johnson, Morgan and Hamilton
counties also reporting gains. Hendricks County saw a slight 1.7 percent decline, while
Boone and Marion counties experienced 1 and 0.2 percent decreases, respectively. The
average year-to-date sales price for a home in the nine-county area was $152,687. Of the
pended homes in the region last month, 53 were priced $500,000 or more; 122 were priced
$300,000 to $499,999; and 1,721 were priced at $299,999 or less.
 

Central Indiana home sales up more than 3 percent in July
         Inventory tightens by 11 percent, while sales prices are up year-to-date over 2010

INDIANAPOLIS - More than 1,800 homes pended in July, with all but three central Indiana
counties reporting increased sales compared to the same time period last year, according to
sales statistics compiled by F.C. Tucker Company. Overall, July 2011 pended home sales
rose 3.6 percent over July 2010, an increase of 64 homes sold.   
 
The largest increases in pended home sales in July were seen in Hancock and Johnson
counties with 44.1 and 11.6 percent increases over July 2010, respectively. Boone,
Madison and Hamilton counties saw decreases in pended home sales over July 2010 with
Boone County experiencing the greatest decline with a drop of 7.4 percent over July 2010.
Overall, homes sales are down year-to-date by 6.7 percent, as the market continues to
adjust after last year's homebuyer tax credit, which encouraged first-time home buyers to
buy before April 30, 2010. 
 
"The numbers we are seeing continue to mirror our predictions of market stabilization in
Central Indiana," said Jim Litten, president of F.C. Tucker Company. "We are encouraged by
the activity in the area's housing market with most counties showing positive trends."
 
Available homes for sale in the nine-county region dropped 11 percent in July 2011 with
15,431 homes on the market, 1,903 fewer than in July 2010. All nine Central Indiana
counties experienced inventory declines with Marion County experiencing the greatest
decrease in inventory at 14.8 percent, followed by Johnson and Madison counties with 12
and 11.1 percent decreases, respectively.   
 
Overall sales prices for the nine-county central Indiana area increased by 1.6 percent.
Tucker's data indicates that five counties experienced higher home sales prices than in July
2010, year-to-date. Hancock County led the way with a 3.7 percent increase in home sales
prices year-to-date, while Boone, Hamilton, Johnson and Shelby also saw increases in
home sales prices. Morgan and Hendricks counties experienced the largest drop in home
sales prices with 2.2 and 2.1 decreases, respectively. The average year-to-date sales price
for a home in the nine-county area was $151,157. Of the pended homes in the region last
month, 71 were priced $500,000 or more; 145 were priced $300,000 to $499,999; and
1,617 were priced at $299,999 or less. 

Central Indiana home sales up 16 percent in June
           Inventory continues to tighten, while sales prices are up year-to-date over 2010

INDIANAPOLIS - Nearly 2,000 homes pended in June, with all but two central Indiana
counties reporting increased sales compared to the same time period last year, according to
sales statistics compiled by F.C. Tucker Company. Overall, June 2011 pended home sales
rose more than 16 percent over June 2010, an increase of 273 homes sold.   
 
The largest increases in pended home sales in June were seen in Hancock and Madison
counties with 34 and 32.5 percent increases over June 2010, respectively. Shelby and
Boone counties saw decreases in pended home sales over June 2010 with 18.2 and 8.2
percent declines, respectively. Overall, homes sales are down year-to-date by 9 percent, as
the market continues to adjust after last year's homebuyer tax credit, which encouraged first-
time home buyers to buy before April 30, 2010. 
 
"We are continuing to see the housing market in central Indiana stabilize," said Jim Litten,
president of F.C. Tucker Company. "June's home sales increase of 16 percent has shrunk
the year-to-date decline over 2010 to 9 percent. As this trend continues, I predict we'll end
the year in the positive." 
 
Available homes for sale in the nine-county region dropped 7.5 percent in June 2011 with
15,722 homes on the market, 1,274 fewer than in June 2010. Seven counties experienced
inventory declines with Marion County experiencing the greatest decrease in inventory at
11.5 percent, followed by Madison and Johnson counties with 8 and 6.7 percent decreases,
respectively. Shelby County's inventory increased by 2.5 percent and Hancock County's
increased by 0.3 percent.  
 
Overall, sales prices for the nine-county central Indiana area increased by 0.5 percent.
Tucker's data indicates that four counties experienced higher home sales prices than in
June 2010, year-to-date. Hancock County led the way with a 7.2 percent increase in home
sales prices year-to-date, while Shelby, Hamilton and Johnson also saw increases in home
sales prices. Morgan and Boone counties experienced the biggest drop in home sales
prices with 6.5 and 1.9 decreases, respectively. The average year-to-date sales price for a
home in the nine-county area was $148,030. Of the pended homes in the region last month,
62 were priced $500,000 or more; 179 were priced $300,000 to $499,999; and 1,726 were
priced at $299,999 or less. 

Central Indiana home sales up 32 percent in May
                 Inventory tightening across all nine counties as market stabilizes

INDIANAPOLIS - Nearly 2,100 homes pended in May, with all nine Central Indiana counties
reporting increased sales compared to the same time period last year, according to sales
statistics compiled by F.C. Tucker Company. Overall, May pended home sales rose more
than 32 percent over May 2010, an increase of 514 homes sold.   
 
The largest increases in pended home sales in May were seen in Shelby and Madison
counties with 92.6 and 50.7 percent increases over May 2010, respectively. The smallest
increases were seen in Morgan and Hancock counties with 13.6 and 16.2 percent
increases, respectively. 
 
"We are starting to see a stabilizing market, as predicted" said Jim Litten, president of F.C.
Tucker Company. "While last month's numbers are up dramatically over May 2010, it is more
telling to compare May to April of this year. The May sales numbers are showing positive
signs of stabilizing over April 2011, and we are seeing inventory tightening up a bit. These
are all good signs and point to ending the year on a positive note." 
 
Available homes for sale in the nine-county region dropped 5.3 percent in May 2011 with
15,557 homes on the market, 867 fewer than in May 2010. Eight counties experienced
inventory declines with Marion County experiencing the greatest decrease in inventory at
8.9 percent, followed by Madison and Boone counties with 8 percent and 4.9 percent,
respectively. Hendricks County's inventory remained unchanged. 
 
Tucker's data indicates that seven counties experienced lower home sales prices than in
May 2010, year-to-date. The two exceptions - Shelby and Hancock counties - saw home
prices inch up 1.1 percent and 0.6 percent, respectively. Homes in Hamilton and Boone
counties saw the smallest decrease in prices at less than 1 percent over May 2010. Homes
in Hamilton County sold for an average of $231,435 and homes in Boone County sold for an
average of $230,122 year-to-date through May 2011. The average year-to-date sales price
for a home in the nine-county area was $144,652.
 
However, when compared to last month (April 2011), home prices in the nine-county region
increased 2 percent. Of the pended homes in the region last month, 50 were priced
$500,000 or more; 146 were priced $300,000 to $499,999; and 1,893 were priced at
$299,999 or less.
 

Central Indiana home sales down in April; May looks promising
        Five counties experience increases in home prices; all nine see inventory tightening

INDIANAPOLIS - Nearly 2,100 Central Indiana homes pended in April, with five of nine
Central Indiana counties reporting increased home prices compared to the same time
period last year, according to sales statistics compiled by F.C. Tucker Company. Overall,
April year-to-date home sales decreased 22.7 percent, down 2,112 homes from the same
period in 2010. However, May is showing promising signs, with an increase of 29 percent in
F.C. Tucker pended home sales in just the first nine days of the month over May 2010.
 
"The housing stimulus from last year expired at the end of April and because of the impeding
expiration, April 2010 saw abnormally high sales," says Jim Litten, president of F.C. Tucker
Company. "As we move forward into May, we are comparing apples to apples and are
already seeing increases in sales over 2010."
 
Tucker's data indicates that five of the nine Central Indiana counties tracked by F.C. Tucker
Company saw increases in average home prices. Johnson and Madison counties
experienced the highest increases in home sales with a 6.8 and 5 percent increase year-to-
date, respectively. Homes in Johnson County sold for an average of $142,799 and in
Madison County sold for an average of $74,263 year-to-date through April 2011. The
average year-to-date sales price for a home in the nine-county area was $141,776. Of the
2,091 pended homes in the region last month, 59 were priced $500,000 or more; 131 were
priced $300,000 to $499,999; and 1,901 were priced at $299,999 or less. 
 
Available homes for sale in the nine-county region dropped 7 percent in April 2011 with
15,254 homes on the market, 1,153 fewer than in April 2010. Inventory tightened in all price
ranges, especially in the $2 million and over price range, which averaged 18.4 percent
fewer homes on the market. All nine counties experienced inventory declines with Marion
County experiencing the greatest decrease in inventory at 10.9 percent, followed by
Hancock and Boone counties with 7.9 percent and 7 percent, respectively.
 

Central Indiana home sales down in March
        Three counties experience increases in home prices; all nine see inventory tightening

INDIANAPOLIS - More than 2,100 Central Indiana homes pended in March, with one of nine
Central Indiana counties reporting increased sales compared to the same time period last
year, according to sales statistics compiled by F.C. Tucker Company. Overall, March year-
to-date home sales decreased 17 percent, down 1,021 homes from the same period in
2010. However, comparing sales to the month prior, Central Indiana home sales were up
43.1 percent over February 2011. Hancock County home sales were up 30.8 percent last
month, compared to March 2010.
 
"As evident in the positive month-over-month gains comparing March to February, we expect
to continue this positive trend as the real estate sales season moves into full swing next
month," said Jim Litten, president of F.C. Tucker Company. "We should continue to see more
stability as we go throughout the year." 
 
Tucker's data indicates that three of nine Central Indiana counties that the real estate
company tracks saw increases in average home prices. Madison and Shelby counties
experienced the highest increases in home sales with a 15.1 and 14.8 percent increase
year-to-date, respectively. Homes in Madison County sold for an average of $74,024 and in
Shelby County sold for an average of $85,007 in March 2011. The average year-to-date
sales price for a home in the nine-county area was $138,132. Of the 2,108 pended homes
in the region last month, 51 were priced $500,000 or more; 140 were priced $300,000 to
$499,999; and 1,917 were priced at $299,999 or less. 
 
Available homes for sale in the nine-county region dropped 6.3 percent in March 2011 with
14,793 homes on the market, 1,001 fewer than in March 2010. Inventory tightened in all
price ranges except in homes priced under $299,999 compared to one year ago. Inventory
especially tightened in the $1 million and over price range, which averaged 16.1 percent
fewer homes on the market. All nine counties experienced inventory declines with Marion
County experiencing the greatest decrease in inventory at 8.3 percent, followed by Morgan
and Hancock counties with 7.5 percent and 6.5 percent, respectively.
 

Central Indiana home sales down in February
         Two counties experience increased home sales; five see increases in home prices

INDIANAPOLIS - More than 1,400 Central Indiana homes pended in February, with two of
nine Central Indiana counties reporting increased sales compared to the same time period
last year, according to sales statistics compiled by F.C. Tucker Company. Overall, February
year-to-date home sales decreased 16.7 percent, down 567 homes from the same period in
2010. Increased home sales were seen in Morgan and Shelby counties with a 16.1 and a
4.9 percent increase year-to-date, respectively.    
 
"We are continuing to see a slower first quarter of 2011 than 2010, as we predicted," said Jim
Litten, president of F.C. Tucker Company. "The first three months of 2010 were unusual due
to the federal tax credit that spurred sales. As the employment outlook improves and the
traditional real estate sales season begins, we expect positive gains month-over-month
starting the second quarter of this year."
 
Tucker's data indicates that all but four of Central Indiana's nine counties saw increases in
average home prices. Shelby and Madison counties experienced the highest increases in
home sales with a 13.7 and 16.6 percent increase year-to-date, respectively. Homes in
Shelby County sold for an average of $83,427 and in Madison County sold for an average
of $72,077 in February 2011. The average year-to-date sales price for a home in the nine-
county area was $139,019, which is 1.8 percent more than February 2010. Of the 1,473
pended homes in the region last month, 26 were priced $500,000 or more; 83 were priced
$300,000 to $499,999; and 1,364 were priced at $299,999 or less. 
 
Available homes for sale in the nine-county region dropped 3.6 percent in February 2011
with 14,259 homes on the market, 539 fewer than in February 2010. Inventory tightened in
all price ranges compared to one year ago, especially in the $500,000 and over price range,
which averaged 23.4 percent fewer homes on the market. Three counties experienced
above average inventory declines. Marion County experienced the greatest decrease in
inventory at 6.6 percent, followed by Madison and Shelby counties with 6.4 percent and 4.5
percent, respectively.