IN: Real Estate Market Showed Signs of Improvement in September

Indiana Gay Real EstateAccording to the monthly “Indiana Real Estate Markets Report” today released by the Indiana Association of REALTORS(R), three important housing market indicators are up year-over-year.

Statewide, when comparing September 2011 to September 2010:
* The number of closed home sales increased 10.2% to 5,163;
* The median sale price of homes increased 5.5% to $115,000; and
* The average sale price of homes increased 5.9% to $138,543.

Another important indicator, however, was slightly down. The number of pending sales decreased 0.4% to 4,597. “It is difficult to put these numbers in perspective,” said Karl Berron, Chief Executive Officer. “The federal home buyer tax credit is still at work in the year-over-year comparisons and while we cannot fully account for them, we know foreclosures and pending foreclosures are a major player in our local housing markets and have been for a long while.

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