INDIANAPOLIS, IN (May 17, 2010)–The federal homebuyer tax credit apparently inspired Central Indiana consumers to house shop, as sales of single-family homes throughout Central Indiana saw double-digit increases in April with the strongest sales volume continuing in the upper housing segments. Prices of single-family homes also continued their months-long appreciation.

Overall April sales of single-family homes across Central Indiana climbed 15.74 percent compared to April 2009, according to the latest monthly data compiled.

All single-family home pricing segments except the under-$100,000 market experienced gains, with the sharpest increases in homes priced from $500,000 and above.

KEY NUMBERS

– April sales of single-family homes climbed 15.74 percent – second consecutive monthly increase
– Pending sales for April totaled 3,052, up 33.39 percent from last year. The highest number ever recorded for an April in the BLC® for Central Indiana.
– The average price of a single-family home appreciated for the sixth straight month, reaching $141,229, up 14.7 percent versus April 2009
– Homes priced between $250,000 and $500,000 rose 28.7 percent
– Luxury homes—those priced from $500,000 to the millions—soared 140 percent.
– $75,000 and $150,000 were up 25 percent
– $150,000 to $250,000 range rose 51 percent.

MARKETS STATISTICS OF NOTE

– FORECLOSURES: Marion County had 298 foreclosures sold in April 2010, down from 371 in April 2009 and 416 in April 2008.

– SALES VOLUME: Sales in Hamilton County increased 35% to 478 versus 354 in April 2009, the largest increase in the 9 county area.

– APPRECIATION: Madison County saw the largest price appreciation of all nine counties, up 39% to $76,000. This can be attributed to one home sold over $500,000 and 10% of homes sold were more than $150,000, double the average sales price for the county.

Source: Inside Indiana Business
Submitted by: Paul Caldwell

Statistics pulled from Metropolitan Indianapolis Board of Realtors® Broker Listing Cooperative for the dates of 4/1/2010 –4/30/2010 and 4/1/2009 –4/30/2009