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Indiana Home Sales Up Last Month

While the number of homes sold went up, the median selling price was down slightly, about $133,000.

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Photo: Jason Pear

Real estate analysts say the upward trend is a good sign the economy may be improving.

The Indiana Association of Realtors is reporting a 14 percent jump in closed homes sales for November, compared to the same month a year earlier. The number of pending home sales increased 10 percent during the same time period.

Realtor Greg Cooper with Dick Richwine Group of Prudential Indiana says it‘s important to note that November 2010 sales were slower as a result of previous sales prompted by the first time home buyer tax credit.

The I.A.R. says prices did not follow the trend. The statewide median and average prices of homes sold in November were slightly less than the same period in 2010. The median sale price of homes decreased 1.8 percent to $110,000. The average sale price of homes decreased less than a percent to about $133,000.

“The bottom line,” he says, “is we are on the right direction. Things are moving in a little better direction valuation-wise and I would say we‘re improving probably as much as anybody right now in the country.”

According to Cooper, future market growth and value depends upon a number of factors outside of the real estate industry’s control.

The number one item on the list is more jobs, which drives number two and three on the group’s list – available financing for qualified buyers and less foreclosure inventory.

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Network Indiana Indiana's Only Audio News Network. Network Indiana is dedicated to providing the state of Indiana important and useful information.

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