Tuesday, May 25 2010
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."