The market in our area showed some impressive gains last month compared to the same month last year in several ways. Over 25% more homes sold in February 2010 than this same period last year. You have to keep in mind too that last month was one of the coldest and snowiest Februaries that we have had in a while, which usually helps to slow activity. The average sale price of a home in the nine county central Indiana area also rose, which indicates that sales of more expensive homes are now being added into the mix, raising the average price. In addition, the number of homes on the market dropped which means the market continues to head toward a more balanced market for both Buyers and Sellers.
For more detailed analysis of the local residential market with actual numbers, charts and graphs, view my latest Market Watch Newsletter.
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