Wednesday, April 28 2010
The Indiana Association of REALTORS® (IAR) today released its "Indiana Real Estate Markets Report" for the month of March 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. Last month, 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 with Knox County being the latest addition.
Statewide, March sales of all types of existing, single-family homes increased 17.9 % from the same month last year; median prices saw an increase of 8.2%.
This is the sixth consecutive month that there has been an increase in median prices over the previous year.
"Some of the large increase in sales can be contributed to the federal tax credit that will expire at the end of April," said Karl Berron, Chief Executive Officer. "But also the trajectory of the market is clearly positive. As we have seen from the reports over the last several months, prices have firmed and Indiana's real estate markets are on better footing than they have been in some time."
Consumers should know that there are other incentives available to help achieve their dream of homeownership, namely the Market Stabilization Program created by the Indiana Housing & Community Development Authority (IHCDA) to minimize the negative effects of foreclosures in many Hoosier communities. Find out more by watching the Reportisode (video) that accompanies the Report at www.IndianaIsHome.com. You should pause the video immediately after playing and allow it to load for a few seconds before pushing play again.