The housing report for Central Indiana in the first quarter of 2012 found that home sales increased 14% compared to the same period in 2011, with the largest increases in Hancock, Boone, Shelby, Johnson, Marion and Hamilton counties. However, Madison county saw a 3% decline in home sales. The average home price remained flat, dropping 0.46%, with prices rising in some counties and falling in others such as Johnson, Hamilton, Hendricks and Madison. The RE/MAX executive attributed the rise in home sales to mild winter weather and predicted modest price increases in the coming months.

1. HOOSIER HOUSING REPORT
Central Indiana
2012 - Q1 (Jan. - March)
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.”
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.
YEAR-OVER-YEAR
Homes Sold Sales Price
14.23% 0.46%
Source: Data compiled by RE Stats and acquired by Metropolitan Indianapolis Board of REALTORS® represents all closed sales reported by October 9, 2011. Not all data may be represented.
0
500
1,000
1,500
2,000
2,500
Marion Hamilton Hendricks Johnson Madison Hancock Boone Morgan Shelby
2011 Homes Sold Q1 2012 Homes Sold Q1
HOMES SOLD
$0
$50
$100
$150
$200
$250
$300
Marion Hamilton Hendricks Johnson Madison Hancock Boone Morgan Shelby
Thousands
2011 AVG Sale Price Q1 2012 AVG Sale Price Q1
AVERAGE SOLD PRICE
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 mil-
lion 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.
Contact:
Leslie Payne, RE/MAX of Indiana
Director of Communications
(p) 317.845.2005 x 209
(c) 317.370.3129
lpayne@remax-indiana.com
of Indiana
AVERAGE SOLD PRICE
1Q 2011
1Q 2012
$136,872
$136,239
HOMES SOLD
1Q 2011
1Q 2012
4,119
4,705