(Lawrenceburg, Ind.) - So far, 2010 seems to be a better year than 2009 for local real estate markets.

The Indiana Association of Realtors has released its latest monthly Real Estate Markets Report. Statewide, sales saw the third straight month of increases and the fifth consecutive month of median sales price increases. The report includes sales of existing single-family homes, condominiums, duplexes, townhomes, mobile homes, and more.

“Because those who took advantage of the federal tax credit have until June 30th to close their transaction, we don’t yet have a clear idea of what the credit’s expiration will mean to our local markets,” said Karl Berron, Chief Executive Officer. “Over the next few months, our reports will become more robust, including information on pending sales and other indicators that will help us understand impact of the tax credit.

“The good news is that median prices did enjoy a welcomed five percent increase over last May,” continued Berron. “Regardless of the availability of the tax credit, we expect prices to remain relatively stable with the potential for some softness if demand indicators continue to wane.”

New numbers show that Dearborn County has seen 148 units sold from January through May. That’s a 35 percent increase from when 109 homes were sold during the same period in 2009.

However, Dearborn County’s median selling price continues to be off. In 2010, the median has been $126,500, down 2.7 percent from $130,000 during the first five months of 2009.

While sales are still slow, Franklin County has seen an uptick in real estate movement this year.  Eighteen homes have been sold there in 2010 thus far, good for a 260 percent increase over just five sales in 2009. The 2009 median sales price of $72,000 has declined 6.9 percent to $67,000.

Ripley County has seen 75 sales in 2010-to-date, a 17 percent increase over 64 homes sold last year through May.

This year’s 17 sales in Ohio County remain on pace with 2009.  Prices have been hit hard in Indiana’s smallest county as the median selling price has fallen from $105,000 in January through May 2009 to $82,000 in 2010, off 21.9 percent.

The only southeast Indiana county lagging behind 2009’s sales pace is Switzerland County.  After seeing 29 homes sold in the first five months of 2009, Switzerland County has had just 17 sales in the first five months of 2010.  The median price has fallen 19.7 percent to $68,900.

Existing Single Family Homes Sales Year to Date including May 2010

Data Source: Indiana Association of Realtors

Existing Single-Family Residential Homes Sales May 2010 vs May 2009

Data Source: Indiana Association of Realtors

LINKS:

Indiana Association of Realtors - http://www.indianaishome.com/