Home sales down slightly in Vanderburgh Co. | News

September home sales in Vanderburgh County were down slightly compared to the same month last year, according to figures released by the Indiana Association of Realtors.  For for the first nine months of 2011, sales also remained behind last year.

145 homes were sold in the county during September, compared to 153 in September of 2010.

For the year, 1,336 homes have changed hands compared to 1,433 during the first nine months of 2010--a 6.8% decrease.

The median price of homes sold this year is up slightly to $110,000, compared to $108,000 last year.

Statewide, three important housing market indicators are up year-over-year. When comparing September 2011 to September 2010:
• The number of closed home sales increased 10.2% to 5,163;
• The median sale price of homes increased 5.5% to $115,000; and
• The average sale price of homes increased 5.9% to $138,543.
Another important indicator, however, was slightly down. The number of pending sales decreased 0.4% to 4,597.

“It is difficult to put these numbers in perspective,” said Karl Berron, Chief Executive Officer. “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.

“Regardless, prices here in Indiana have historically held their ground,” continued Berron. “And this is not just good news for home owners, but also communities and would-be home owners who are shopping with some of the lowest mortgage interest rates in most of our memories.”

Whether market activity and value continue to grow depends upon a number of factors outside of the real estate industry’s control say realtors across the state. The number one item on their list is more jobs, which drives number two and three on the group’s list – available financing for qualified buyers and less foreclosure inventory.
“Folks looking to invest should start with the sortable county tables of this report and then talk to a local realtor who can give the most insight into what’s happening in a neighborhood, city or school district,” concluded Berron.

The report became even more robust in August 2010. It now tells how the statewide housing market is performing according to eight different indicators, each with one-month and year-to-date comparisons, as well as a historical look. It also provides specific county information for 91 of Indiana’s 92 counties in a sortable table format, allowing for consistent comparison between local markets. IAR obtains the data directly from and releases this report in partnership with 26 of the state’s 27 Multiple Listing Services (MLSs), including the Broker Listing Cooperative® (BLC®) in both central and southwestern Indiana.