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Home Sales Take Summer Dip
Last Updated: August 24, 2010 6:48:45 am(Lawrenceburg, Ind.) – With a federal tax credit no longer being available for homebuyers, July became a down month for home sellers in southeast Indiana.
The Indiana Association of Realtors’ latest Indiana Real Estate Markets Report shows that sales were down in each of the region’s five counties.
“The tax credit undoubtedly pulled some sales forward in 2010, distorting year-over-year comparisons in the short term. A longer time horizon will be necessary to get a more complete view of trends,” said Karl Berron, CEO of the association.
Across the state in July there were 28.8 percent fewer sales than July 2009. Median sales prices in July declined 1.5 percent from the same month last year – the first decline after nine straight months of increases.
Thirty-one homes were sold in Dearborn County last month, down from 49 in July 2009. The median sales price for those 31 homes was $112,700, down 17.1 percent from $136,000 last year.
Ripley County had the second highest amount of sales in July at seven, but still down from 12 in July 2009 with the median price falling 11.4 percent to $97,900.
Two homes each were sold in Franklin, Ohio, and Switzerland county last month.
July 2009 vs. July 2010 Home Sales
| COUNTY |
CLOSED SALES '09 |
CLOSED SALES '10 | +/- % | MEDIAN PRICE '09 | MEDIAN PRICE '10 | +/- % |
| Dearborn | 49 | 31 | -36.7 | $136,000 | $112,700 | -17.1 |
| Franklin | 3 | 2 | -33.3 | $115,250 | $99,000 | -14.1 |
| Ohio | 4 | 2 | -50.0 | $44,000 | $139,950 | +218.1 |
| Ripley | 12 | 7 | -41.7 | $110,500 | $97,900 | -11.4 |
| Switzerland | 8 | 2 | -75.0 | $66,200 | $57,200 | -13.6 |
| Indiana | 6,319 | 4,496 | -28.8 | $116,800 | $115,000 | -1.5 |
Data Source: Indiana Association of Realtors
Year-to-Date Home Sales
| COUNTY |
CLOSED SALES '09 |
CLOSED SALES '10 | +/- % | MEDIAN PRICE '09 | MEDIAN PRICE '10 | +/- % |
| Dearborn | 197 | 211 | +7.1 | $134,000 | $125,000 | -6.7 |
| Franklin | 12 | 22 | +83.3 | $81,000 | $71,000 | -12.3 |
| Ohio | 23 | 26 | +13.0 | $82,000 | $105,000 | +28.0 |
| Ripley | 96 | 113 | +17.7 | $99,000 | $99,900 | +0.9 |
| Switzerland | 38 | 24 | -36.8 | $77,450 | $68,900 | -11.0 |
| Indiana | 33,897 | 36,021 | +6.3 | $109,900 | $112,500 | +2.4 |
Data Source: Indiana Association of Realtors
