(Lawrenceburg, Ind.) – Southeast Indiana homesellers found 2010 to be a tougher year than perhaps any in recent history.

The Indiana Association of Realtors released its monthly Indiana Housing Market Update for December on Monday. It included final numbers on 2010 home sales in all 92 Indiana counties.

The reports showed 667 homes, condos, and townhomes were sold during the year in Dearborn, Franklin, Ohio, Ripley, and Switzerland counties, down 3.1 percent from 688 residential properties which changed owners in 2009.

Karl Berron, CEO of the Indiana Association of Realtors, says it may be difficult to compare numbers from 2009 and 2010.

“Again, the nation’s economic turmoil and the federal home buyer tax credit make it impossible to fairly evaluate the marketplace in the short-term, especially with regard to activity,” said Berron.  “That’s why we’ll focus on the long-term; at least until the impact of the tax credit recedes. 

“Most industry experts and the association’s leadership believe real estate markets will continue to improve, albeit slowly,” he continued.  “What we do know is that there’s no better time to be a buyer than now.  Interest rates remain low, though ticking upward, and there is a higher than normal inventory of homes available.”

Dearborn County accounted for 338 of the region’s sales, down 7.1 percent from 2009. The county’s median sales price also fell 1.1 percent to $128,000.

The second highest volume of sales occurred in Ripley County where there were 162 sales during the past year, off 11.5 percent from 2009. Homesellers there also took 4.1 percent less money on average at $99,700.

Switzerland County’s real estate market took the biggest hit during 2010 with 47 sales, down 40.5 percent from 79 sold in 2009.  The median sales price there did improve by 4.3 percent to $71,950.

The region’s biggest jump in sales was seen in Franklin County, going from 25 sales in 2009 to 31 last year, up 24 percent. However, Franklin County’s median sales price slid 8.0 percent to $75,000.

Ohio County sales held steady at 39, a slight improvement from 37 in 2009 while the median sales price mirrored 2009 at $105,000.

“The federal homebuyer tax credit was only in play for a third of last year.  And yet, the numbers show the market on par with 2009, which might take some who listen to non-local news by surprise,” said Berron.

“Admittedly, activity is not as high as we want it to be,” he continued.  “The good news is that prices are up, which is important to not just homeowners and families, but also to communities and the state.  In fact, the median sale price of homes has increased 13 out of the last 15 months."

INDIANA HOUSING MARKET UPDATE - DECEMBER 2009 vs DECEMBER 2010

Data Source: Indiana Association of Realtors

LINKS:

Indiana Association of Realtors Housing Market Update - http://www.indianaishome.com/4_0_Reports.asp