SEI's 2011 Home Sales On Pace To Beat 2010

(Lawrenceburg, Ind.) - New home sales figures for Indiana show that home sales for the southeast region in 2011 are likely to surpass 2010 totals.

The November Indiana Real Estate Markets Report from the Indiana Association of Realtors shows that unless December sales tank, local home sales will be up slightly this year over 2010. The report tracks sales of single family homes, condos, and townhomes.

“We’re close to being able to say that 2011 was better than the last two years,” said Karl Berron, CEO of the Indiana Association of Realtors. “Local housing markets may not be making progress as quickly as we’d like, but they’re making progress and that’s good news for everyone.”

In Dearborn County, 355 homes have been sold in the year to date through November, a 13.4 percent increase over the 313 sold in the first 11 months of 2010.

Selling prices in Dearborn County have improved 5.5 percent over last year to a median of $131,900.

While Dearborn County has witnessed a home market resurgence, sales in surrounding counties are behind. Ripley County sales were 10.3 percent slower with 140 homes sold through November. Ohio County’s 34 sales are just 5.6 percent behind 2010.

Franklin County’s housing market has absorbed a large hit from slower homes sales, down 32.1 percent from last year to just 19 sales.

Switzerland County sales have increase by 11.9 percent to 47 properties changing hands this year.

As for the month of November along, 30 homes were sold in Dearborn, up 20 percent from the same month last year. Ripley County had a 7.7 percent decline in sales to 12. Ohio County had six sales last month to improve upon just one sale in November 2010. Switzerland County had three homes change hands, even with 2010. Franklin County did not record a sale in November.

Statewide, 4,411 homes were sold, up 14.2 percent. The median sales price was off 1.8 percent to $110,000.

“Home prices here in Indiana have historically held their ground,” said Berron. “It’s one of the reasons we enjoy a homeownership rate of more than seventy percent, and is certainly a positive for would-be home owners who are now shopping with some of the lowest mortgage interest rates in current memory.”

The full November Indiana Association of Realtors report is available at http://www.indianaishome.com.

COUNTY

CLOSED SALES 2010

CLOSED SALES 2011

% CHANGE

MEDIAN PRICE 2010

MEDIAN PRICE 2011

% CHANGE

Dearborn

25

30

$135,900

$138,428

+1.9

Franklin

1

0

N/A

$70,000

$0

N/A

Ohio

1

6

+500.0

$175,000

$71,750

-59.0

Ripley

13

12

-7.7

$129,900

$09,950

-15.4

Switzerland

3

3

0.0

$47,000

$50,000

+6.4

Indiana

3,861

4,411

+14.2

$112,000

$110,000

-1.8

COUNTY

CLOSED SALES 2010

 CLOSED SALES 2011

% CHANGE

MEDIAN PRICE 2010

MEDIAN PRICE 2011

% CHANGE 

Dearborn

313

355

+13.4

$125,000

$131,900

+5.5

Franklin

28

19

-32.1

$80,000

$100,000

+25.0

Ohio

36

34

-5.6

$105,000

$88,000

-16.2

Ripley

156

140

-10.3

$99,250

$105,950

+6.8

Switzerland

42

47

+11.9

$75,000

$72,500

-3.3

Indiana

53,477

53,393

-0.2

$112,500

$113,000

+0.4

Data source: Indiana Association of Realtors