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Home Prices Improving, Sales Declining In 2010
Last Updated: December 21, 2010 10:09:35 am(Lawrenceburg, Ind.) - Local home prices held steady as southeast Indiana home sales this year appear to be heading for a worse finish than 2009.
The Indiana Association of Realtors’ Indiana Real Estate Markets Report shows closed sales of single-family homes, condos, and townhomes decreased 29.4 percent in November from the same month last year to 3,861 statewide.
The report shows 25 homes were sold in Dearborn County last month November at a median price of $135,900.
For the year-to-date, Dearborn County has seen 313 homes sold, off 6.8 percent from the 336 sold in the first 11 months of 2009.
IAR CEO Karl Berron pointed to the expiration of the homebuyer tax credit earlier this year for the slowdown.
“It is very easy to become discouraged when looking at market activity,” said Berron. “It’s not as high as we want it to be, but the nation’s economic turmoil and the federal tax credit make it impossible to fairly evaluate in the short-term. It’s much more appropriate to review housing data in the long-term and will be that way until the impact of the tax credit recedes.”
Median sales price of Hoosier homes has increased 1.9 percent to $122,000. The median price has increased 12 out of the past 14 months.
“Prices are up, which is important to not just homeowners and families, but also to communities and the state,” Berron said.
INDIANA HOUSING MARKET UPDATE NOV. 2009 VS NOV. 2010
| COUNTY | CLOSED SALES NOV. 2009 | CLOSED SALES NOV. 2010 | +/- | MEDIAN PRICE 2009 | MEDIAN PRICE 2010 | +/- |
| Dearborn | 28 | 25 | -10.7% | $130,450 | $139,500 | +4.2% |
| Franklin | 3 | 1 | -66.7% | $40,000 | $70,000 | +75% |
| Ohio | 2 | 1 | -50% | $77,250 | $175,000 | +126.5% |
| Ripley | 17 | 13 | -23.5% | $154,200 | $129,900 | -15.8% |
| Switzerland | 8 | 3 | -62.5% | $52,000 | $47,000 | -9.6% |
| Indiana | 5,468 | 3,861 | -29.4% | $109,900 | $112,000 | +1.9% |
Data source: Indiana Association of Realtors
INDIANA HOUSING MARKET UPDATE YEAR-TO-DATE 2009 VS 2010
| COUNTY | CLOSED SALES 2009 | CLOSED SALES 2010 | +/- | MEDIAN PRICE 2009 | MEDIAN PRICE 2010 | +/- |
| Dearborn | 336 | 313 | -6.8% | $129,900 | $125,000 | -3.8% |
| Franklin | 22 | 28 | +27.3% | $79,900 | $80,000 | +0.1% |
| Ohio | 34 | 36 | +5.9% | $95,000 | $105,000 | +10.5% |
| Ripley | 172 | 156 | -9.3% | $103,900 | $99,250 | -4.5% |
| Switzerland | 69 | 42 | -39.1% | $72,500 | $75,000 | +3.4% |
| Indiana | 57,120 | 53,477 | -6.4% | $110,000 | $112,500 | +2.3% |
Data source: Indiana Association of Realtors
