As we move further into the third quarter and closer to the Presidential election, many consumers and analysts are keeping a watchful eye on the housing market and its impact, if any, on voter sentiment. Here in centralIndiana, the state of real estate remains encouraging. Most signs are positive.
In July, 2,219 homes pended, an increase of 9.7 percent over July 2011. For the first seven months of 2012, home sales rose 14.3 – an increase of 1,934 homes – from the same time period last year.
Specifically inBooneCounty, July home sales climb at a modest rate.
- Home sales are encouraging inBooneCounty. In July 2012 pended home sales rose to 85 – a slight increase of 4 homes from July 2011.
- For the first seven months of 2012,BooneCountyhome sales spiked to 591 – an increase of 15.9 percent from the same time period last year.
- In Zionsville, pended home sales remain unchanged for the month. In July 2011 and 2012, 41 homes pended.
- Buyers in Zionsville continue to take advantage of competitive prices. Of the homes that pended, 17 were less than $299,999; 19 were $300,000 – $499,999; and five were $500,000 – $999,999.
- Home prices are up in Zionsville. In July 2012, the average home cost was $370,693 – an increase of $19,545 from July 2011.
- Inventory is tightening. In July 2012, 245 homes were available for sale in Zionsville. In July 2011, 292 homes were on the market.
As fall approaches, it’s typical to see a market slowdown. It’s also common for consumers to become more cautious about making major decisions as the November elections approach. Still, we are encouraged by the direction of the market this year; inventory continues to decrease while prices and sales increase.