INDIANAPOLIS, IN – April 27, 2012 – (RealEstateRama) — According to the latest housing data compiled by RE/MAX of Indiana, Central Indiana’s real estate market for the nine-county area recorded relatively strong growth for the early months of 2012. Fourteen percent more homes sold during the first quarter of 2012 with 4,705 homes compared to the same time last year with 4,119 homes.
Hancock County was reported as having the most significant year-to-date increase in the number of homes sold, with 44 percent, followed by Boone (24 percent), Shelby (18 percent), Johnson (17 percent), Marion (16 percent), and Hamilton (12 percent). Despite this upward trend, Madison County experienced a drop in home sales with nearly 3 percent fewer homes sold during the first quarter of 2012 compared to the same time last year.
Meanwhile, the average price of homes sold overall in Central Indiana remained flat, dropping 0.46 percent to $136,239. Prices increased for homes sold in Shelby (8.97 percent), Hancock (3.76 percent), Boone (2.28 percent), Marion (2.20 percent), and Morgan (2.13 percent). However, prices dropped for homes sold in Johnson (-5.75 percent), Hamilton (-3.88 percent), Hendricks (-0.83 percent), and Madison (-0.77 percent).
“Hoosiers kicked off the housing market early this year, leading to increased activity as a result of the mild winter and warm spring weather that closed out the first quarter,” said Dan Breault, RE/MAX of Indiana’s executive vice president, regional director. “With interest rates still hovering around historic-record lows and prices holding steady, this is the best opportunity for consumers to buy homes.”
Going forward, Breault anticipates prices will start rising modestly, which will help those homeowners looking to sell. However, the market will still remain tipped in favor of buyers for the coming months ahead.
To view the complete Hoosier Housing Report for Central Indiana, go to http://content.remax-indiana.com/media/downloads/remaxin/20120423015318.pdf
About RE/MAX of Indiana
RE/MAX of Indiana is Hoosiers’ real estate market leader with $2.7 billion in annual sales, over 75 offices and nearly 1,200 sales associates. Founded in 1987, RE/MAX of Indiana helps growing families and businesses through its expertise in residential and commercial real estate, as well as relocation and referral services. Having sold 1.5 million homes in Indiana over the last five years, “nobody sells more real estate than RE/MAX.” Visit www.remax-indiana.com for more information, and follow us on Facebook at www.facebook.com/remaxofindiana and on Twitter at www.twitter.com/remaxofindiana.