The Indiana Association of Realtors is reporting increases in November closed home sales. The organization says that number jumped 26.2 percent, compared to the same month in 2011. The average sale price throughout the state increased 5.1 percent.

The Indiana Real Estate Markets Report today released by the state’s REALTORS® shows that statewide, when comparing November 2012 to November 2011, the following occurred:

• The number of closed home sales increased 26.2 percent to 5,566,
• The median sale price of those homes increased 8.6 percent to $119,500,
• The average sale price increased 5.1 percent to $139,688,
• The percent of original list price received increased 0.9 percent to 90.2 percent,
• The number of pending home sales increased 17.2 percent to 4,640, and
• The number of new listings increased 4.9 percent to 7,055.

“Home sales continued to increase through the end of November suggesting that Hoosiers’ belief in homeownership remains strong as the year comes to a close,” said Karl Berron, Chief Executive Officer of the Indiana Association of REALTORS®. “But the biggest story of today’s report and perhaps the whole year is that homes have not only held their value, but also made price gains.”

The good news made last month is part of a trend that proves local residential real estate markets across the state continue to strengthen from the worst of the recession. November 2012 marks the following consecutive year-over-year gains in home prices and market activity:

• The number of closed home sales has increased year-over-year for 17 consecutive months,
• The median sale price of homes has increased for 12 consecutive months,
• The average sale price has increased for 11 consecutive months,
• Sellers received a greater share of their original list price for the ninth consecutive month, and
• The number of pending home sales has increased for 14 consecutive months.

Anyone looking to buy or 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.

More about the Indiana Real Estate Markets Report

Established in May 2009, the Indiana Real Estate Markets Report was the first-ever county-by-county comparison of existing single-family home sales in Indiana. In March 2010, IAR added statistics on other types of existing detached single-family (DSF) home sales – condominiums, duplexes, townhomes, mobile homes, etc. – to the report.

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.

IAR represents approximately 15,000 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of America’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.

Source: Indiana Association of Realtors http://www.insideindianabusiness.com/newsitem.asp?ID=57258

The Indiana Association of Realtors is reporting a 14 percent jump in closed homes sales for November, compared to the same month a year earlier. IAR also says prices did not follow the trend. The statewide median and average price of homes sold in November were slightly less than the same period in 2010.

According to the monthly “Indiana Real Estate Markets Report” today released by the Indiana Association of REALTORS®, activity was high in November with both the number of closed and pending home sales up by double digits year-over-year.

Statewide, when comparing November 2011 to November 2010:

The number of closed home sales increased 14.2% to 4,411; and
The number of pending home sales increased 10.4% to 3,959.
Prices did not follow that trend. Both the statewide median and average price of homes sold in November 2011 was less than in November 2010, but just slightly:

The median sale price of homes decreased 1.8% to $110,000; and
The average sale price of homes decreased 0.2% to $132,949.
“We’re close to being able to say that 2011 was better than the last two years,” said Karl Berron, Chief Executive Officer. “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.”

With regard to the slight dip in prices, Berron said REALTORS® were not concerned because year-to-date, the median sale price of homes in Indiana is actually up when compared to 2010 and 2009, and so is the average sale price.

“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.”

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.

More about the “Indiana Real Estate Markets Report”

Established in May 2009 and found online under the Reports tab of www.IndianaIsHome.com, the “Indiana Real Estate Markets Report” was the first-ever county-by-county comparison of existing single-family home sales in Indiana. In March 2010, IAR added statistics on other types of existing detached single-family (DSF) home sales – condominiums, duplexes, townhomes, mobile homes, etc. – to the report.

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.

IAR represents approximately 15,000 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of America’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.

Source: Indiana Association of Realtors

Source: http://www.insideindianabusiness.com/newsitem.asp?ID=51432

Housing data for June shows pending sales increased 16.4 percent statewide. The report from the Metropolitan Indianapolis Board of Realtors and the Indiana Association of Realtors also indicates the median sales price rose 1.4 percent. IAR Chief Executive Officer Karl Berron says "pending sales are a good measure of confidence."

INDIANAPOLIS – In the first half of 2011, decreased housing activity and stable prices defined the central Indiana market. Housing data released today for June 2011 provided a brighter picture for the future, including increased prices and an abundant number of pending sales. This is according to data in a jointly released report from the Metropolitan Indianapolis Board of REALTORS® (MIBOR) and the Indiana Association of REALTORS® (IAR).

In central Indiana, the average sales price of homes increased by 1.1 percent to $150,797 during the first six months of 2011 when compared to January-June 2010. Average sales price also rose in the three month comparison by 2.2 percent to $156,999 and by 2.9 percent in the one month comparison to $164,190. Median sales price during January through June 2011 experienced a drop of 1 percent to $120,788. April through June 2011 median sales prices held steady, while June-only numbers increased 4 percent to $129,999.

The number of closed sales in central Indiana decreased by 12.7 percent in the first half of 2011. Closed sales for June show a smaller, 6.3 percent decrease.

The surprise number comes in the form of pending sales, while down for the year, up 19 percent for the month of June. Pending sales reflect signed purchase agreements that have yet to close. The robust number bodes well for more closed sales in the coming months.

Statewide, when comparing June 2011 to June 2010:

The median sales price increased 1.4 percent to $119,900

Pending sales increased 16.4 percent

“During the last six months, the recovery of the housing market has been slow and steady – not dramatic or flashy,” said Dave Goff, 2011 MIBOR president. “This month, however, has painted an encouraging picture for the remainder of the year. Interest rates are down nationally and local pending sales have climbed drastically, providing a positive outlook.”

IAR CEO Karl Berron agreed. “Pending sales are a good measure of confidence. A full recovery lies with jobs, available financing for qualified buyers and less foreclosure inventory. It’s all part of the mix.”

Additional key central Indiana findings for January through June 2011:

New listings decreased by 15.2 percent during the six month comparison.

Months of supply increased to 9.8 months during the first half of 2011.

Total active listings fell by 1.6 percent

The attached data will tell consumers how the central Indiana housing market is performing according to eight different indicators. Each indicator will have one-, three-, six- and 12-month comparisons, as well as a historical look. Consumers will also have access to specific county information for the 13 counties included in MIBOR’s Broker Listing Cooperative® (BLC®): Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Montgomery, Morgan, Putnam and Shelby counties.

IAR’s report, found online under the Reports tab of www.IndianaIsHome.com, will show consumers the state of Indiana’s housing market according to the same indicators with one-month and year-to-date comparisons, as well as a historical look. Consumers will also have access to specific county information for 91 of Indiana’s 92 counties in a sortable table format.

This information has been provided by MIBOR. MIBOR is the professional association representing central Indiana's REALTORS®. MIBOR serves the needs of more than 6,500 members in Boone, Brown, Hamilton, Hancock, Hendricks, Johnson, Marion, Montgomery, Morgan and Shelby counties. MIBOR also supplies the BLC® listing service to REALTORS® in Decatur, Madison and Putnam counties.

IAR represents approximately 16,000 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of the world’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.

Source: MIBOR &  InsideINdianaBusiness.com Report http://www.insideindianabusiness.com/newsitem.asp?ID=48881

The Indiana Association of REALTORS® (IAR) today released its monthly “Indiana Real Estate Markets Report” as a continuation of its “Indiana is Home” project.  Statewide, when comparing March 2011 to March 2010:

The Indiana Association of Realtors says home sales throughout the state increased 2.9 percent in January, compared to a year ago. The median sale price also rose 5.3 percent. Chief Executive Officer Karl Berron says the numbers are significant because the federal home buyer tax credit was in play in January 2010, but not last month.

 The Indiana Association of REALTORS® (IAR) today released its monthly “Indiana Real Estate Markets Report” as a continuation of its “Indiana is Home” project. Statewide, when comparing January 2011 to January 2010:

The median sale price of homes increased 5.3 percent to $100,000;

The average sale price of homes increased 0.6% to $121,941; and
The number of closed sales increased 2.9% to 3,037.

The Report at a glance:

Statewide Housing Market Overview
(Monthly Indicators)

Sortable County Tables:

One-month & Year-to-date Views

Trailing three- & 12-month Views

Reportisode:

"Homeowners Best Friend"

“These numbers are significant because the federal home buyer tax credit was in play in January 2010, but not last month,” said Karl Berron, Chief Executive Officer.

“REALTORS® have advised consumers for months now to review housing data in the long-term until the impact of the tax credit recedes. We maintain that position. A month of good news is not the sole reason for our optimism. Rather, it is what we’re seeing over several months and years that has us most hopeful,” he continued.

To Berron’s point:

The median sale price of homes, statewide, has increased 14 out of the last 16 months; and

The inventory of homes for sale has steadily trended downward since the latter part of 2007, getting closer to a normal or neutral market.

Berron conceded that activity isn’t as high as REALTORS® would like and will not be until the nation’s economy settles and there is a meaningful increase in jobs. “But,” he said, “It’s easy to see that housing has remained a smart long-term investment despite these challenges.”

More about the "Indiana Real Estate Markets Report"

Established in May 2009 and found online under the Reports tab of www.IndianaIsHome.com, the “Indiana Real Estate Markets Report” was the first-ever county-by-county comparison of existing single-family home sales in Indiana. In March 2010, IAR added statistics on other types of existing detached single-family (DSF) home sales – condominiums, duplexes, townhomes, mobile homes, etc. – to the report.

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 26 of the state’s 27 Multiple Listing Services (MLSs), including the Broker Listing Cooperative® (BLC®) in central Indiana.

It is a multi-media project aimed at keeping Hoosier homeowners, would-be homeowners, policymakers and the media well-informed on the ever-changing local real estate markets.

This month’s reportisode (video) discusses more benefits of homeownership, namely the mortgage interest deduction.

Indianapolis-based Boost Media Entertainment shot and produced all videos found online at www.IndianaIsHome.com.

IAR represents approximately 16,000 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of the world’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.

Source: The Indiana Association of REALTORS & InsideINdianaBusiness

http://www.insideindianabusiness.com/newsitem.asp?ID=46270

2010 on par with 2009;
Median sale price of homes increases for the 13th month out of the last 15

Today’s release of the “Indiana Real Estate Markets Report” by the Indiana Association of REALTORS® (IAR) provides the usual month-over-month comparison and because of timing, also provides a comparison of calendar years that supports the association’s past recommendation for reviewing housing data in the long-term.

Statewide, when comparing 2010 to 2009:
The number of closed home sales decreased 6.6% to 57,765; and
The median sale price of homes increased 1.8% to $112,000.
The Report at a glance:
 
Statewide Housing Market Overview
(Monthly Indicators)
Sortable County Tables:
One-month & Year-to-date Views
Trailing three- & 12-month Views
Reportisode:
"The Long View"

“The federal homebuyer tax credit was only in play for a third of last year.  And yet, the numbers show the market on par with 2009, which might take some who listen to non-local news by surprise,” said Karl Berron, Chief Executive Officer.
“Admittedly, activity is not as high as we want it to be,” he continued.  “The good news is that prices are up, which is important to not just homeowners and families, but also to communities and the state.  In fact, the median sale price of homes has increased 13 out of the last 15 months."

The Indiana Association of REALTORS® (IAR) today released its "Indiana Real Estate Markets Report" for the month of April as a continuation of its "Indiana is Home" project.

The Report, found online at www.IndianaIsHome.com, was the first-ever county-by-county comparison of existing single-family home sales in Indiana. In March, statistics on other types of existing, single-family home sales - condominiums, duplexes, townhomes, mobile homes, etc. - was added to the report.

IAR obtains the data directly from 26 of the state's 27 Multiple Listing Services (MLSs), including the Broker Listing Cooperative® (BLC®) in central Indiana. To date, the Report represents 98% of the housing market statewide and 91 of 92 Indiana counties.

Statewide, April sales of all types of existing, single-family homes increased 28.4% from the same month last year; median prices saw an increase of 13.7%.

This is the seventh consecutive month that there has been an increase in median prices over the previous year.

"April showed continuation of an expected spring surge due to the federal tax credit," said Karl Berron, Chief Executive Officer. "While the increase in sales is positive, the best news is that inventory is trending down and there seems to be a broad stabilization in home prices, demonstrating that the tax credit did its job to preserve housing wealth."

The Indiana Association of Realtors (IAR) says statewide home sales increased 36.5 percent in November, compared to the same month a year earlier. It is the second consecutive monthly increase. IAR also reports median prices last month increased 10.5 percent.

The Indiana Association of REALTORS (IAR) today released its “Indiana Real Estate Markets Report” for the month of November as a continuation of its “Indiana is Home” project.

The Report, found online at www.IndianaIsHome.com, is the first-ever county-by-county comparison of existing single-family home sales in Indiana. IAR obtains the data directly from the state’s 23 largest Multiple Listing Services (MLSs) and the Broker Listing Cooperative (BLC) in central Indiana. To date, the Report represents 98% of the housing market statewide.

Statewide, November sales increased 36.5% from the same month last year; median prices saw an increase of 10.5%. This is the second consecutive month that there has been an increase in sales over the previous year.

“The numbers that we have seen from November, as well as October, are welcomed news as we approach the end of the year,” said Karl Berron, Chief Executive Officer. “It remains the fact that homes continue to be affordable to Hoosier families. And while the recent jump in numbers can be linked to the impact of the $8,000 first-time homebuyer tax credit, it’s important to recognize that Indiana’s housing markets are continuing to make a turnaround after a very tough year.

“The increase in sales combined with other housing statistics, including increases in new construction, are important steps forward for our state’s and country’s economic recovery,” Berron added.

More about “Indiana Is Home”

It is a multi-media project hosted by media professional Pat Carlini and aimed at keeping Hoosier homeowners, would-be homeowners, policymakers and the media well-informed on the ever-changing local real estate markets.

This month, Carlini narrates a video explaining the extension and expansion of the $8,000 first-time homebuyer tax credit.

Indianapolis-based Boost Media and Entertainment shot and produced all videos found at www.IndianaIsHome.com.

IAR represents more than 16,000 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of the world’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.

Source: Indiana Association of Realtors & Inside INdiana Business

http://www.insideindianabusiness.com/newsitem.asp?ID=39316