Central Indiana home sales picking up pace

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If you're buying or selling a house, you should know homes are selling at a faster pace in central Indiana.

Within the last year, Fishers resident Cory Williams has twice tried to sell his house. Williams said he took his house off the market when prices dropped.

"I decided to take it off the market and wait it out a little bit when the prices started to decline," he said.

When the economy went soft, home prices followed. Williams and many of his neighbors are tied to homes that just were not selling. As a former realtor, he has some experience in the market and believes this time the house will sell.

"We are not in any hurry to sell, we will probably keep it up for another couple of months. Hopefully it does not last that long, we can wait it out," said Williams.

If the current trend continues, he may not have to wait long, according to Indianapolis realtor Nina Klemm of the F.C. Tucker Company.

"I actually think it is a seller's market right now. It is the first time I can say that in a long time," Klemm said.

The reason Klemm says the market is starting to come back to life is recent sales figures from the F.C. Tucker Company and the Metropolitan Indianapolis Board of Realtors, which show homes in central Indiana are selling and they are selling fast.

For example, a home Klemm listed in Carmel 20 days ago already has an accepted offer. Klemm is now telling prospective buyers to come prepared to buy.

"A house just came on the market and it is a great house and now we are having conversation. The house just came on the market and it is going to be gone next week," said Klemm.

Part of the reason homes are so selling quickly, there are fewer on the market about 12 percent fewer than last year. In Marion County, the number of homes for sale is down 15 percent from last year and almost 25 percent less in Johnson County. Also, the most recent published sales figures are, on average, down three percent from this time last year. The one exception is Shelby County, where home prices are up 32 percent.

What the numbers are telling us is that sellers are willing to take less and are ready to move.

Klemm says, in some cases, homes are selling at or above listed price if the home is move in ready.

"I had a house in Avon that I listed, sold with multiple offers in seven days. Listed the house next door to them seven days later, got another offer on that one. Two on the same street in a 14-day span," Klemm said, warning this is an exception.

However, if current sales trends continue, realtors and sellers are expecting more homes on the market and sale prices starting to climb.

Klemm is expecting March home sales to be even higher, with a steady increase in prices.