Home Sales Improve For Dearborn, Ripley Co.

(Lawrenceburg, Ind.) - September brought an improvement in home sales and prices for sellers in southeastern Indiana.

The latest monthly sales report from the Indiana Association of Realtors shows 34 homes were sold in Dearborn County in September, up from 24 in the same month in 2010. The report tracks sales of detached single family homes, condos, and townhomes.

Dearborn County’s median selling price was up about six percent to over $137,000.

Ripley County saw sales double from last year to 16 in September. The median sales price more than doubled from $64,750 in September 2010 to $138,500 the same month this year.

Ohio and Switzerland counties each recorded three home sales in September. Franklin County was the only county in the Eagle 99.3 listening area to see sales fall from four in September 2010 to two this year.

Statewide, when comparing September 2011 to September 2010 the number of closed home sales increased 10.2 percent to 5,163. The median sale price of homes increased 5.5 percent to $115,000 while the average sale price increased 5.9 percent to $138,543.

“It is difficult to put these numbers in perspective,” said Karl Berron, chief executive officer of the realtors association. “The federal home buyer tax credit is still at work in the year-over-year comparisons and while we cannot fully account for them, we know foreclosures and pending foreclosures are a major player in our local housing markets and have been for a long while.”

Berron added that current prices are good news for home sellers and buyers with some of the lowest mortgage interest rates in recent history.

COUNTY

CLOSED SALES 2010

CLOSED SALES 2011

% CHANGE

MEDIAN PRICE 2010

MEDIAN PRICE 2011

% CHANGE

Dearborn

24

34

$129,150

$137,250

+6.3

Franklin

4

2

-50.0

$115,750

$90,000

-22.2

Ohio

2

3

+50.0

$130,000

$82,500

-36.5

Ripley

8

16

+100..0

$64,750

$138,500

+113.9

Switzerland

3

3

0.0

$88,500

$75,000

-15.3

Indiana

4,685

5,163

+10.2

$109,000

$115,000

+5.5

COUNTY

CLOSED SALES 2010

 CLOSED SALES 2011

% CHANGE

MEDIAN PRICE 2010

MEDIAN PRICE 2011

% CHANGE 

Dearborn

265

291

+9.8

$125,000

$131,000

+4.8

Franklin

26

15

-42.3

$80,000

$100,000

+25.0

Ohio

33

26

-21.2

$105,000

$107,000

+1.9

Ripley

135

117

-13.3

$99,000

$109,000

+10.1

Switzerland

35

36

+2.9

$76,500

$75,000

-2.0

Indiana

45,405

44,090

-2.9

$112,500

$113,900

+1.2

Data source: Indiana Association of Realtors