(Lawrenceburg, Ind.) – The federal homebuyer tax credit is getting credit for surging home sales in Indiana.
The Indiana Association of Realtors’ newest monthly Real Estate Markets Report for June shows sales of all types of single-family homes – houses, mobile homes, condominiums and more – were up 8.6 percent from June 2009. The state’s median sales price last month was also 1.3 percent better for sellers.
It is the fourth consecutive month in which sales have increased over the same period a year ago and the ninth straight month that the average sales price has risen.
“All across Indiana, the federal tax credit undoubtedly accomplished a mission to spur activity, stabilize home prices and draw down inventory,” said Karl Berron, Chief Executive Officer of the IAR. “While the credit has expired, those who took advantage now have until September 30th to close their transaction, so it’s still influencing local markets albeit to a much smaller degree.
“The good news is that sales and median prices are up from last year, the latter being most important to families and homeowner wealth,” continued Berron. “We are hopeful that prices remain stable. The major contributor to the continued recovery of the housing markets will be the greater economic recovery and the jobs it brings.”
Locally, Dearborn County witnessed the reverse of the state trend with 32 sales in the month of June, 17.9 percent fewer than the 39 sold in June 2009.
However, Dearborn County sellers are still having a better year-to-date with 180 sales through last month, up 21 percent from 2009.
The median sales price in the Dearborn County so far this year is $125,000.
Ohio County, the state’s smallest county geographically, marked a banner month in June with seven sales, up from just two in June 2009. The median sales price also shot up 72.8 percent from $79,000 to $136,500.
Ripley County also noticed an increase in sales, up 55.0 percent to 31 sales last month from 20 in the same month a year ago. The county’s median sales price improved from $91,750 last year by 8.9 percent to $99,900 this past June.
There were five home sales in Switzerland County during June, down from six in June 2009. The average sales price also fell there by 12.0 percent to $55,000 for the month.
2010 Home Sales Year-To-Date through June by County
|COUNTY||Units Sold '09||Units Sold '10||% Change||Median Sales Price '09||Median Sales Price '10||% Change|
Data source: Indiana Association of Realtors
Indiana Association of Realtors Monthly Report - http://www.indianaishome.com/4_0_Reports.asp