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Home Sales Take Hit In Oct.
Last Updated: November 23, 2010 6:26:44 am(Lawrenceburg, Ind.) - It is tough times trying to sell a home in southeast Indiana right now.
The Indiana Association of Realtors latest Real Estate Markets Report for October shows that just 23 single family, condos and townhomes were sold in Dearborn County last month. That’s a decline of nearly half from 45 homes sold in October 2009.
“As expected, the number of home sales fell sharply this month when compared with the same month last year,” said Berron. “We not only have the first deadline of the tax credit to thank for that, but also the recent foreclosure moratorium that has removed those properties from the market.”
Dearborn County’s median selling price is also down 7.8 percent to $115,000 from $124,500 the same month a year ago.
For the year-to-date through October, Dearborn County now trails 2009 slightly as 308 homes sold through the first ten months last year compared to 288 this year.
Eight homes were sold in Ripley County last month compared to 29 in October 2009. The median price fell there dramatically 18.3 percent to $73,500. Year-to-date sales also fell behind from 155 last year to 143 so far this year.
Ohio County witnessed two homes sold during October, Switzerland County had four, and Franklin County saw just one.
Switzerland County’s housing market has taken the biggest hit in 2010. Through the first ten months 39 homes have been sold there compared to 61 a year ago.
“October 2012 is the soonest we’ll be able to make an honest month-over-month comparison. That’s when we’ll be able to fully assess the impact of the tax credit,” continued Berron. “Until then, we need to review housing data in the long-term.”
“Even with swings in home sales, prices have been changing very little from year-ago readings. That’s terrific news for all concerned,” said Berron. “And, the fact remains that the market we’re currently in – both statewide and in most localities – has many advantages, more supply, historic low interest rates and less buyer competition.”
Indiana Housing Market Update October 2009 vs 2010
| COUNTY | CLOSED SALES 2009 | CLOSED SALES 2010 | +/- % | MEDIAN PRICE 2009 | MEDIAN PRICE 2010 | +/- % |
| Dearborn | 45 | 23 | -48.9 | $124,500 | $115,000 | -7.6 |
| Franklin | 2 | 1 | -50.0 | $80,750 | $155,900 | +93.1 |
| Ohio | 3 | 2 | -33.3 | $89,000 | $60,700 | -31.8 |
| Ripley | 29 | 8 | -72.4 | $90,000 | $73,500 | -18.3 |
| Switzerland | 7 | 4 | -42.9 | $40,000 | $79,356 | +98.4 |
| Indiana | 6,265 | 4,211 | -32.8 | $109,900 | $112,900 | +2.7 |
Data Source: Indiana Association of Realtors
Indiana Housing Market Update Year-To-Date
| COUNTY | CLOSED SALES 2009 | CLOSED SALES 2010 | +/- % | MEDIAN PRICE 2009 | MEDIAN PRICE 2010 | +/- % |
| Dearborn | 308 | 288 | -6.5 | $129,900 | $125,000 | -3.8 |
| Franklin | 19 | 27 | +42.1 | $81,500 | $85,000 | +4.3 |
| Ohio | 32 | 35 | +9.4 | $95,000 | $105,000 | +10.5 |
| Ripley | 155 | 143 | -7.7 | $97,500 | $97,900 | +0.4 |
| Switzerland | 61 | 39 | -36.1 | $75,000 | $76,500 | +2.0 |
| Indiana | 51,652 | 49,616 | -3.9 | $110,000 | $112,500 | +2.3 |
Data Source: Indiana Association of Realtors
LINKS:
Indiana Association of Realtors Real Estate Markets Report - http://www.indianaishome.com/4_0_Reports.asp
