Indianapolis Home Sales Mostly Continue to Decline, but There Is Good News

The Indiana Association of REALTORS® recently released an Indianapolis real estate report on the July sales of homes in Indiana. Representing more counties than ever before, 93% of the Indiana housing market is now reflected in this report found at Indiana Is Home. IAR gathers their information from Indiana’s Multiple Listing Services and Broker Listing Cooperatives® across Indiana, including those homes in the Indianapolis real estate market.

Showing a comparison of homes sold in July, 2008 to July, 2009, a decrease in Indianapolis home sales continues to be the trend. However, compared to the first half of 2009, there is an overall slowing down in the decline of sales. For months now, Indianapolis homeowners have been concerned about the housing market, so there is good news represented in this new report.

Specific County Information

  • Marion County felt a 6.7% drop in Indianapolis home sales from July, 2008 to July 2009 but the good news is it also experienced a 3.9% gain in its median sales price, from $96,250 to $100,000.
  • Hamilton County was on the low end in decline showing 4.1% fewer homes sold in July, 2009 compared to July, 2008. The median sales price of homes dropped 9.1% from $209,500 to $190,450.
  • Hendricks County was feeling the heat a little more with 13% fewer homes sold in July, 2009. However, the median price home homes only dropped 2.8% from $144,000 to $139,945.
  • Hancock County was one of the most-impacted counties with a 39.8% drop in sales and a 11.6% drop in home prices, from $133,000 to $117,612.
  • Boone County is holding fairly steady in sales with only a 1.3% drop, however the median home prices felt a greater impact from July 2008 dropping 28.7%, from $230,000 to $164,000.
  • Rounding out data for central Indiana, Johnson County appears to be the most unaffected by changes in the Indianapolis home sales housing market by registering a 9.4% gain in home sales from July 2008 to July, 2009. Their median sales price also increased 1.2% from $126,500 to $128,000.