City sees a decrease in home sales

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With more than 2,500 pending sales in March in Central Indiana, overall year-to-date home sales are up 13.1 percent compared to this time last year, according to statistics compiled by F.C. Tucker Co.

On a monthly basis, March 2013 home sales rose 1.2 percent over March 2012, an increase of 30 homes sold in the nine counties that F.C. Tucker tracks. Five of the nine counties reported increased sales compared to March 2012.

Hamilton County is one of the areas that experienced an upswing. Last month, 557 homes sold in Hamilton County, which is an increase of 1.3 percent compared to March of last year. But even within the county, the housing market recovery varies from city to city.

  • In Carmel last month, 143 homes pended, which is a decrease of 13 homes compared to March of last year.
  • Home prices in Carmel fell slightly last month. The average sales price was $285,047 – a decrease of 7.1 percent compared to March 2012.
  • Homes in Hamilton County aren’t staying on the market quite as long last year. Last month, homes spent an average of 92 days on the market, but last year they spent roughly 111 days on the market.
  • Homebuyers are likely noticing fewer available homes. In March 2013, there were 520 homes for sale in Carmel, a decrease of 26.6 percent compared to March 2012.
  • Of the pended home sales in Carmel last month, 16 were priced $500,000 to $999,999; 53 were priced $300,000 to $499,999; 43 were priced $200,000 to $299,999; 27 were priced $100,000 to $199,999; and four were priced at $99,999 or less.

Overall, the first quarter of the year is off to a strong start, though results vary across the region. Continued increases in home sales and home prices, and decreases in inventory are positive signs that the Central Indiana real estate recovery is still on solid ground.

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