Central Indiana: still a buyer's market

Central Indiana home sales fell considerably in September from their year-ago level, while prices stayed flat, according to the latest MLS statistics from the Metropolitan Indianapolis Board of Realtors.

Home sales in the nine-county region surrounding Indianapolis totaled 2,441 in September, a 17.3 percent drop from a year ago when 2,951 homes were sold.

The average sales price in September rose to $155,731, up slightly from $155,684 in August, and up 0.7 percent from $154,592 in September 2005.

Although 8.3 percent fewer new listings were placed on the MLS in September compared to a year ago, some 19,412 homes remained active on the market at month end, up 13.2 percent from the same period last year. While showing signs of tempering, this level of inventory suggests the buyer's market will continue, according to a press statement.

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