Central Indiana home sales continue slide in last quarter of 2008

Home sales in central Indiana continue to slide, declining 18 percent in the fourth quarter compared to the same period the previous year, the Metropolitan Indianapolis Board of Realtors reported today.

Units sold in the 13 counties tracked by the trade group dropped to 4,966 in the three months ended Dec. 31.

All counties showed declines, with Marion registering a 14-percent dip. Home sales in Putnam County plunged the most - 33 percent. The median sale price in the 13-county area fell 9 percent to $105,106.

The average sale price last quarter increased in just two counties - Madison and Decatur. Brown County registered the largest decline at 25 percent. The average sale price in Marion County last quarter fell 12 percent, to $95,563.

For the entire year, the number of units sold dropped 14 percent, to 25,468, from 2007. The region's median sale price in 2008 fell 4 percent, to $116,900, but was still better than the 9-percent national decrease.