First Quarter Home Sales, Market Activity Increase

First Quarter Home Sales, Market Activity Increase
MIBOR releases three-, six- and 12-month central Indiana statistics

INDIANAPOLIS — Units sold in central Indiana increased in the quarterly, six-month and 12- month comparisons, according to statistics released today by the Metropolitan Indianapolis Board of REALTORS®. During first quarter 2010, homes sold increased to 4,634, a 1 percent increase when compared to first quarter 2009. A six-month comparison shows that units sold increased 13 percent to 11,016 when compared to October 2008-March 2009. When compared to the previous 12-month period, units sold increased 1 percent to 25,103.

Units pended, a key indicator of market activity, also increased 11 percent during first quarter 2010, when compared to the same period in 2009. The six- and twelve-month comparisons show an increase of 11 percent and 5 percent, respectively.

Additional key local findings:

• Total sales volume during the first quarter increased 12 percent to $637 million.
• Months of supply, regardless of price point, decreased to 8.2 months in March 2010 compared to 9.0 months in March 2009.
• Average sale price increased 11 percent to $137,647 during first quarter when compared to the same period in 2009.
• Median sale price increased 12 percent to $109,900 during first quarter 2010 when compared to the same period 2009.