Area home sales snap year-old losing streak

Central Indiana snapped a one-year slump in home sales in September, recording its first monthly increase in home-sale agreements since August 2013.

Pending sales of existing homes in the nine-county Indianapolis area rose from 2,178 in September 2013 to 2,203 in September 2014—an increase of 1.1 percent, real estate agency F.C. Tucker Co. said Tuesday morning.

Deals had fallen for 12 straight months on a year-over-year basis prior to last month.

“As we move into the final quarter of the year, sales appear healthy,” said Jim Litten, president of F.C. Tucker Co., in a prepared statement. “Though sales will likely slow as we settle into the colder months, we believe the central Indiana housing market will continue to make subtle progress.”

Deals would need to improve significantly in the final quarter in order for the market to enjoy a positive year in sales. So far, deals for the first nine months of the year are down 6.5 percent compared to the same period of 2013.

Marion County saw a 4.2-percent increase in pending sales in September, to 935.

Deals fell 5.2 percent in Hamilton County, to 456, and were down 4.1 percent in Hendricks County, to 189.

Pended sales dropped 9 percent in Johnson County, to 171, and decreased 4.8 percent in Hancock County, to 100.

Madison County saw an 18.2-percent increase, to 143. Deals were up 41 percent in Shelby County, to 48.

Average year-to-date sale prices were up 6.3 percent through September in the nine-county area, to $176,270. Average home prices this year were highest in Boone County, at $279,820, and in Hamilton County, at $266,539.

The average sales price in Marion County through September was $136,794, an increase of 6 percent over the first nine months of 2013.

One pending sale in the area in September topped $2 million. Twelve more exceeded $1 million. Most of the home sales, 999, took place in the range from $100,000 to $199,999.