An online Indiana Real Estate Markets Report, released by the state’s Realtors association, shows that statewide — when comparing May 2013 to May 2012 — the following occurred:
* Closed home sales increased 21 percent to 7,840.
* Median sale price increased 4.5 percent to $127,500,
* The average sale price increased 4.2 percent to $150,543,
* The percent of original list price received increased 1.2 percent to 92.8 percent,
* Pending home sales increased 18.9 percent to 7,625.
* The number of new listings increased 11 percent to 12,556.
Bob Reid of Appraisal Consultants in Evansville said a glance at figures in Vanderburgh, Warrick, Posey and Gibson county was encouraging as well.
According to his statistics, which he compiles for the Southwest Indiana Association of Realtors, the total number of closed home sales in those counties was 374, up 28.1 percent over the same period last year.
Reid said the number of sales for May 2013 in Vanderburgh, alone, was 233, up 18.9 percent, and those in Warrick totaled 100, an increase of 69.5 percent.
The median sale price in the four counties was $127,350, up 2.3 percent this May, compared with last May. In Vanderburgh, it was $116.500, up 5.9 percent, and in Warrick it was $157,000, down 4.8 percent.
The average sale price in all four counties was $140,298, up 2.9 percent, compared to May 2012. In Vanderburgh, it was $123,555, up 0.8 percent, and it was $188,031 in Warrick, down 2.3 percent.
Original list price received in all four counties was 97.0 percent, up 0.77 percent. In Vanderburgh, it was 96.7 percent, up 0.3 percent; and in Warrick, it was 97.4 percent, up 1.0 percent.
The supply of homes — or number of new listings — totaled 1,524 in all four counties this May, down 1352. In Vanderburgh, the number was 1,524, down 13.5 percent. In Vanderburgh, it was 1,024, down 9.9 percent. In Warrick, it was 268, down 28.5 percent
“May was the type of month our members have been waiting for in this slow and steady housing recovery,” said Kevin Kirkpatrick, president of the Indiana Association of Realtors, in the online report by Stacey Hartman, Indiana Realtors spokesman.
“Buyer interest and confidence remain high, so we expect to be just as busy during the next few months as the housing recovery gains momentum.”
Kirkpatrick said, “Low inventory is still a concern, but as home prices rise homeowners gain a better equity position and should feel comfortable selling.” A new concern, he said, is rising interest rates, which have been at or near historic lows.
Buyers will want to take advantage of the lowest rate possible.
“If the selection of homes does not match the demand, sales volume will definitely be affected down the road,” he said.