Area home sales continue slide By Jeff Swiatek, The Indianapolis Star 13 March 2008 Pending home sales in February fell 1.73 percent from a year ago in 13 Central Indiana counties. The preliminary estimate from Landrigan & Co. Realtors signals continued weakness in the housing market. But Landrigan said the area's inventory of homes for sale was trimmed. It will take 11 months to sell all the 19,000 homes now on the market, compared to 13.6 months a year ago, Landrigan said. The report by the Indianapolis realty firm, which uses sales figures from the Metropolitan Indianapolis Board of Realtors, says that pending sales of homes in the area fell to 2,153 last month from 2,191 last February. The average price of the homes sold last month was $138,591, a 4.4 percent drop from a year ago. Sales may start picking up because "Much of the buying public is aware that a serious resolution to the property tax controversy is forthcoming," said G.B. Landrigan, president of Landrigan & Co. The state legislature has until Friday to hammer out a compromise property tax package that likely will include a cap on residential property taxes equal to 1 percent of the property's assessed value.