| To Log in to My Home Finder or Sign Up for a New Account click here |
| Press Releases | ||
|
||
FOR IMMEDIATE RELEASECENTRAL INDIANA MEDIAN HOME PRICES AT HIGHEST LEVEL SINCE 2007 Sales of Homes in Central Indiana Rise for the Fourth Straight Month INDIANAPOLIS, IN (June 14, 2010) --Sales of single-family homes across Central Indiana area rose for a fourth straight month in May, showing signs of a real estate market that is benefiting from seasonal spring home buying apparently bolstered by transactions incentivized by the federal government’s homebuyer tax credit that expired on April 30 according to new monthly data compiled by RE/MAX of Indiana. Relevant Benchmarks Ø Sales of single-family homes across Central Indiana area rose for a third straight month in May, showing signs of a real estate market that is benefiting from seasonal spring home buying apparently bolstered by transactions incentivized by the federal government’s homebuyer tax credit that expired on April 30 according to new monthly data compiled by RE/MAX of Indiana. Ø At $130,000, the May median home price, rose 6 percent from one year earlier to the highest level since July 2007. That’s the fourth straight monthly increase in the median price. Ø Month-end pending sales—those listings expected to close within the next 30 days—were down 32% percent. Ø May sales of single-family homes in Central Indiana totaled 2,397, up 13% percent from May 2010, and accounted for the 4th consecutive monthly increase. Ø Sales volume is at its highest since July 2008, with an 18.6 percent increase. Ø Year-over-year sales of single-family homes priced between $150,000 and $250,000—the busiest segment of the housing market—rose 26 percent in May. Ø Homes sales in Shelby County had the largest percentage increase from 2009, up 44%, and Johnson County had 218 homes close up 23% from May 2009. Ø Of the 2,397 homes sold in Central Indiana, 46% were sold in Marion County and 19% were in Hamilton County. Ø At $236,130, Boone County had the highest average sales price in Central Indiana. Ø 21% of homes sold in Central Indiana were Distressed Properties. “The Central Indiana real estate market has shown incremental improvement each month this year, both in terms of sales volume and the pricing stability, however, we expected noticeably lower sales the months immediately following the expiration of the tax credit because of the rush of buyers who wanted to capitalize on the tax credit” stated Dan Breault, Regional Director of RE/MAX of Indiana. Statistics pulled from for the dates of 5/1/2010 –5/31/2010 and 5/1/2009 –5/31/2009 About RE/MAX of Indiana: RE/MAX of Indiana is affiliated with RE/MAX, LLC. Since its inception in 1987, RE/MAX of For more, visit www.remax-indiana.com. Follow us on Facebook: RE/MAX of Indiana and Twitter: www.twitter.com/remaxofindiana CONTACT: Leslie Payne, RE/MAX of Director of Communications: (p) 317.845.2005 x 209 (c) 317.370.3129 Eva Gribler, RE/MAX of Indiana Market Analyst (p) 317.845.2005 x 210 (c) 317.409.6572 -0- |
