Home Sales Continue to Climb

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The Indiana Association of Realtors is reporting a more than 14 percent increase in existing single-family home sales for September, compared to the same month a year earlier. The IAR says the median sale price of those properties increased nearly 3 percent. October 21, 2013

News Release

(INDIANAPOLIS, IN) – The number of existing, single-family homes sold last month statewide increased 14.3 percent when compared with September 2012. The median sale price of those 6,342 homes is $123,500 – a 2.9 percent increase from the same month of last year. This is according to the monthly Indiana Real Estate Markets Report today released by the state's REALTORS®.

Other year-over-year, statewide comparisons from the report show -

• The average sale price of homes increased 3.6 percent to $146,553

• The percent of original list price received increased 1.6 percent to 92.3 percent

• The number of pending home sales increased 9.9 percent to 5,483

• The number of new listings increased 13.1 percent to 9,497

September 2013 was the 27th consecutive month of year-over-year gains in the number of closed home sales, and marked these other consecutive year-over-year gains –

• The median sale price of homes has increased for 22 months

• The average sale price has increased for 21 months

• Sellers received a greater share of their original list price for the 19th month

• The number of pending home sales has increased for 24 months

"Today's report contains some of the best news we've shared," said Kevin Kirkpatrick, 2013 President of the Indiana Association of REALTORS®. "Fall usually brings a slowdown to housing markets and while September followed that seasonal trend, home sales and prices across Indiana were significantly higher than the same month of the last two years. Statewide, we are well past the recovery stage and appear to be moving toward a stable, balanced marketplace. Whether we fully achieve that status depends on real employment and wage growth, as well as consumer confidence."

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