EagleCountryOnline.com

Home Sales Flat Or Down In Most SEI Counties

Posted On September 25, 2013

By Mike Perleberg

 

image(Lawrenceburg, Ind.) – New home sales numbers for August suggest the frequency of homes being sold in southeast Indiana may be plateauing.

 

The Indiana Association of Realtors released their monthly report for August on Tuesday. It tracks the sales of detached single-family homes, condominiums, and townhomes in every Indiana county.

 

In Dearborn County last month, 40 homes changed hands compared to 42 the same month last year. In Ripley County, 15 homes were sold, down from 22 the year before.

 

The good news is that prices are still rising, at least in Dearborn County where the median selling price was up 20.5 percent last month to $159,000.

 

Home sales are at or above pace to beat 2012’s numbers through the first eight months of the year. Dearborn County has seen 307 homes sold through last month, compared to 286 in 2012, good for a 7.3 percent improvement. Ripley County sales are ahead by 16.9 percent, 145 so far this year compared to 124 last year.

 

Looking statewide, the realtors association says August sales were up 13 percent when compared with August 2012. The median sale price of those 7,566 homes is $125,000, or a 2.9 percent increase from the same month last year.

 

“The traditional summer selling season ended on a high note in Indiana,” said Kevin Kirkpatrick, 2013 President of the Indiana Association of Realtors. “The idea that mortgage rates may rise further is likely spurring some of the demand we are now seeing in early September. With the limited inventory we have, buyers should be prepared to first submit their most competitive offers.”

 

INDIANA HOUSING MARKET UPDATE – AUGUST 2012 VS AUGUST 2013

COUNTY

CLOSED SALES 2012

CLOSED SALES 2013

% CHANGE

MEDIAN PRICE 2012

MEDIAN PRICE 2013

% CHANGE

Dearborn

41

40

-2.4

$132,000

$159,000

+20.5

Franklin

3

3

0.0

$73,500

$93,000

+26.5

Ohio

4

2

-50.0

$199,500

$101,000

-49.4

Ripley

22

15

-31.8

$107,300

$101,000

-5.9

Switzerland

5

8

+60.0

$115,000

$101,750

-11.5

Indiana

6,697

7,566

+13.0

$121,500

$125,000

+2.9

  

INDIANA HOUSING MARKET UPDATE – YEAR TO DATE 2012 VS 2013

COUNTY

CLOSED SALES 2012

CLOSED SALES 2013

% CHANGE

MEDIAN PRICE 2012

MEDIAN PRICE 2013

% CHANGE 

Dearborn

286

307

+7.3

$125,000

$142,000

+13.6

Franklin

11

22

+100.0

$73,500

$103,000

+40.1

Ohio

22

22

0.0

$124,250

$91,500

-26.4

Ripley

124

145

+16.9

$112,100

$110,750

-1.2

Switzerland

36

37

+2.8

$90,000

$70,638

-21.5

Indiana

44,333

52,216

+17.8

$117,500

$122,900

+4.6

 

Data source: Indiana Association of Realtors