Monday, November 29, 2010

Indiana Real Estate Market Data - 3rd Quarter 2010

FOR THE STATE OF INDIANA:

Pending sales decreased 34.7% from last year
New listings decreased 14.8%
Overall inventory decreased by 1.1%

Prices held their ground and even inched upwards.
Median sales price increased by 2.3% coming in at $112,500
Average sales price increased by 4% coming in at $132,977
List price to sale price ratio increased 1% to 91.3%

FOR CENTRAL INDIANA:

Pending sales decreased 28% compared to previous quarter
Closed sales decreased 24.9%
Months of available inventory inched up to 9.5 months

Median sales price was flat compared to previous quarter
Average sales price increased 7.3% to $155,054

Boone County:
Number of closed sales is down 23.1% compared to previous quarter
Average sales price is up 17.7% to $243,720
List price to sale price ratio is down 2.6% to 89.4%
Inventory supply is down 2.7% to 10.4 months

Hamilton County:
Number of closed sales is down 22.6% compared to previous quarter
Average sales price is up 7.8% to $258,238
List price to sale price ratio is down 1.2% to 92.3%
Inventory supply is up 4.8% to 8.6 months

Hancock County:
Number of closed sales is down 11.7% compared to previous quarter
Average sales price is up 3.6% to $144,068
List price to sale price ratio is down 3.1% to 90.4%
Inventory supply is down 2.6% to 9.9 months

Hendricks County:
Number of closed sales is down 20.5% compared to previous quarter
Average sales price is up 5.9% to $163,450
List price to sale price ratio is down 1.9% to 91.3%
Inventory supply is up 17.6% to 9.1 months

Johnson County:
Number of closed sales is down 26.8% compared to previous quarter
Average sales price is up 4.9% to $150,871
List price to sale price ratio is down 2.8% to 90.4%
Inventory supply is up 1.5% to 8.9 months

Madison County:
Number of closed sales is down 15.3% compared to previous quarter
Average sales price is down 6.4% to $79,333
List price to sale price ratio is down 3.5% to 86.8%
Inventory supply is up 13.9% to 11 months

Marion County:
Number of closed sales is down 32% compared to previous quarter
Average sales price is up 6.3% to $116,993
List price to sale price ratio is down 2.6% to 88.8%
Inventory supply is up 3.6% to 9.2 months

Shelby County:
Number of closed sales is up 1% compared to previous quarter
Average sales price is up 5.4% to $105,640
List price to sale price ratio is down 1.6% to 87.9%
Inventory supply is down 7.3% to 11.8 months

As a side note - Indianapolis was recently noted as one of the 10 American cities best situated for economic recovery.  Indianapolis was noted for its abundance of affordable housing and population growth at 50% higher than the national average. An aggressively pro-business attitude has helped grow jobs in areas such as life science and motorsports.

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