Indianapolis metro area home prices, sales slipped in July 2007

IBJ Staff

The average sale price of houses in the 13-county metro area fell 3 percent in July from the same month last year-to $163,612, the Metropolitan Indianapolis Board of Realtors said today.

The number of sales slid 6.7 percent, to 2,765. Pending sales-signed but not closed-fell 5 percent.

Inventories held steady at 22,270, a sign that one member called a sign of hope for the market.

"While activity slowed some in July, inventories were steady, which provides homebuyers with a wide variety of options," MIBOR President Kevin Kirkpatrick said in a statement.