By Katy Yeiser, Daily Journal of Johnson County staff writer
The number of homes sold in Johnson County in the past year dropped by 13 percent from last year's levels, a trend common among central Indiana counties, according to a state study.
But November's sales numbers showed a nearly 50 percent drop from the same period in 2007. And home prices are falling, too.
All metro Indianapolis counties saw a decline in home sales in the 12 months from December 2007 to November, compared with the same 12 months a year earlier, according to the Metropolitan Indianapolis Board of Realtors, which tracks housing sales and trends in 13 central Indiana counties.
In the past year, 1,825 residences were sold in Johnson County, about 13 percent fewer than the 2,099 sold the previous year.
In 2006, the number of sold homes was higher, 2,206, which means home sales over the past two years have dropped 21 percent.
Decatur and Brown counties saw the largest drops in home sales this year with 32 and 30 percent, respectively.
The report also shows that the number of Johnson County homes sold in November compared with last November dropped 44 percent, the greatest drop in the metro area. But those findings aren't as representative of the housing market's condition as a full year's review would be, Realtor board spokeswoman Claire Belby said.
In November last year, 163 residences were sold in the county, which was about the same as 2006, according to the report.
But only 91 units were sold last month in the county.
"(The year review) gives you a much better perspective to really look at things in longer periods of time versus short snapshots of one month at a time," Belby said.
Johnson County saw a slight uptick in sales in September, according to real estate company F.C. Tucker. Sales figures compiled by the realty group showed September sales went up in six central Indiana counties over last year's figures. More than 150 homes were sold in the county in September, a 7.9 percent increase from last year.
Still, overall home sales in the county have been lagging since 2006, according to data.
The average and median sale price of homes in central Indiana also have fallen throughout the past year, making the housing market ripe for buyers but not as profitable for sellers, Belby said.
The average sales price over the past 12 months dropped from about $152,200 to $144,000 in central Indiana, a 5 percent decline, according to the study. The median sales price went down 13 percent, from $115,775 to $100,800, according to the study.
In 2006, the average selling price for a home in central Indiana was an estimated $154,765, about 7 percent higher than the current average.