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February Home Sales Stats Released By Realtors Assoc.

Posted On March 26, 2014

By Mike Perleberg

(Lawrenceburg, Ind.) – Southeast Indiana’s real estate agents found themselves a bit busier in February, following a slow January.

The Indiana Association of Realtors released its February 2014 Indiana Housing Market Update Tuesday, tracking sales of single family homes, condos, and townhomes in each county in the state.

Statewide, sales were down in February by 13.1 percent, compared to the same month in 2013. 3,978 homes were sold this February versus 4,577 sold last year. The statewide median price was up, however, by 9.5 percent to $115,000.

Kevin Eastridge , president of the Indiana Association of Realtors, said Mother Nature does not deserve all of the blame for lagging home sales.

“Low inventory is also a culprit. And both will likely result in the same type of report next month,” said Eastridge. “The good news is that home values held their own with significant year-over-year gains. Pent-up demand could make spring and summer very busy if and only if inventory gets a boost. Opportunity is knocking loudly on the doors of potential sellers.”

Home sales numbers were more encouraging in southeast Indiana. Dearborn County had 32 sales during February, up 14 percent from last year. The median price in Dearborn County did fall 10.1 percent to $116,200.

Ripley and Ohio counties also saw improvement. Fifteen homes changed hands in Ripley County, up 25 percent, while the median selling price fell 9.6 percent to $78,000. Ohio County had two sales compared to one last year.

Franklin and Switzerland counties each declined compared to last year. Franklin Count had two sales. Switzerland County just one.

MONTHLY COMPARISON – FEBRUARY 2013 VS FEBRUARY 2014

COUNTY CLOSED SALES 2013 CLOSED SALES 2014 % CHANGE MEDIAN PRICE 2013 MEDIAN PRICE 2014 % CHANGE
Dearborn 28 32 +14.3 $129,319 $116,200 -10.1
Franklin 4 2 +50.0 $125,000 $49,500 -60.4
Ohio 1 2 +100.0 $226,000 $111,000 -50.9
Ripley 12 15 +25.0 $86,250 $78,000 -9.6
Switzerland 5 1 -80.0 $142,500 $40,100 -71.9
Indiana 4,577 3,978 -13.1 $105,000 $115,000 +9.5

 

YEAR TO DATE COMPARISON THROUGH FEBRUARY

COUNTY CLOSED SALES 2013 CLOSED SALES 2014 % CHANGE MEDIAN PRICE 2013 MEDIAN PRICE 2014 % CHANGE
Dearborn 56 65 +16.1 $125,000 $119,900 -4.1
Franklin 5 2 -60.0 $87,500 $49,500 -43.4
Ohio 2 4 +100.0 $159,500 $128,950 -19.2
Ripley 32 25 -21.9 $85,000 $54,000 -36.5
Switzerland 11 2 -81.8 $112,000 $37,550 -66.5
Indiana 8,799 7,817 -11.2 $107,000 $112,900 +5.5

  Data source: Indiana Association of Realtors