(Lawrenceburg, Ind.) - Home sales appear to be slowing this fall in southeast Indiana.

The latest monthly Indiana Housing Market Update for September from the Indiana Association of Realtors shows a combined 41 homes - including single family, condos, and townhomes - were sold in Dearborn, Franklin, Ohio, Ripley, and Switzerland counties.  That’s a 38.8 percent decline from 67 homes sold during September 2009.

However, those homeowners in the five county area who did managed to sell during September typically received more in return.

Dearborn County’s median price of 24 homes sold in the month went for an average of $129,150, a 3.7 percent improvement over the median sales price of $124,500 for 39 homes sold in the county during the same month a year ago.

The opposite was experienced by homesellers in Ripley County where eight homes were sold in September for a median price of $64,750. A total of 18 homes sold there in September 2009 went for a 32.7 percent higher average price of $96,250.

Two homes were sold in Ohio County last month, the same as a year ago, with the average sales price up 17 percent over September 2009 to $130,000.

Franklin County witnessed four home sales at a median price of $115,750. Just three homes were sold in Switzerland County for an average of $88,500.

For the year to date in the five counties a total of 494 homes have been sold. That’s slightly ahead of the 2009 pace through September when 489 sales were made.

Statewide in Indiana, 17.6 percent fewer homes have been sold as sales declined from 5,688 in September of last year to 4,685 last month.  The median sales price across the state is also down 2.7 percent from $112,000 to $109,000.

“It bears repeating from last month that nationally, the real estate market is adjusting after the expiration of the federal tax credit,” Karl Berron, Chief Executive Officer of the realtors association.  “Year-over-year comparisons are distorted, especially those of pending and closed sales.  It will be months until we’re again comparing apples to apples, at which time we’ll be able to fully assess the impact of the tax credit.

“Reviewing housing data in the long-term is a more healthy way to study the market and when you consider the extraordinary circumstances of the last couple of years, we should widen the lens even more,” continued Berron.  “The fact remains that the market we’re currently in – both statewide and in most localities – has many advantages, more supply, historic low interest rates and less buyer competition.”

INDIANA HOUSING MARKET UPDATE SEPT. 2009 VS SEPT. 2010

INDIANA HOUSING MARKET UPDATE YEAR-TO-DATE THROUGH SEPTEMBER

Date source: Indiana Association of Realtors

LINKS:

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