Central Indiana home sales up more than 6 percent in November as home prices continue trending upward

F.C Tucker reports continued decrease in home inventory

 

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that home sales continue climbing, while home prices increase and homes continue leaving the market more quickly. The November 2019 average home sale price increased to $225,545 compared to November 2018. Year-to-date, average sales price increased to $225,082 for the 16-county central Indiana region. Pended home sales increased 6.3 percent, and home inventory decreased by 7.0 percent.

 

Pended sales continued to increase last month. In November 2019, 2,674 central Indiana homes were purchased, up from 2,515 sold in November 2018. Specifically:

      Hancock County showed the most growth in homes sold with an almost 45 percent increase in November 2019 compared to November 2018.

      Shelby County pended sales, however, decreased with more than 35 percent fewer homes sold last month compared to November 2018.

Sellers once again benefited from the increase in November home sale prices and from homes leaving the market more quickly compared to this time last year.

      All 16 counties F.C. Tucker tracks increased in average year-to-date home prices. Jennings County once again experienced the highest price increase at 15.8 percent compared to this time last year.

      Boone County had the highest average home price in the region at $339,239.

      Homes sold in 37 days on average, 9.8 percent faster than year-to-date 2018. Hendricks County homes left the market the fastest at just 32 days on average.

Inventory decreased 7.0 percent last month, with 6,034 homes listed in November 2019. That represents 451 fewer homes available for sale than in November 2018.

      Jackson County once again experienced the highest increase in inventory with 107.9 percent more listings than November 2018.

      Hancock County inventories dropped the most at 24.1 percent compared to November 2018.

 

"The number of available homes in central Indiana continues to decrease, while home sales and prices increased again in November,” said Jim Litten, CEO of F.C. Tucker Company. “We typically see a slight decrease in home sales near the holidays, but the seller’s market continues to be strong and will remain strong for the foreseeable future.”

 

Of the pended home sales in the region last month, 1 was priced $2,000,000 or higher; 12 were priced $1,000,000 to $1,999,999; 97 were priced $500,000 to $999,999; 406 were priced $300,000 to $499,999; 631 were priced $200,000 to $299,999; 1,112 were priced $100,000 to $199,999; and 415 were priced at $99,999 or less.

 

 

 

Editor’s Notes:

      All statistics were compiled by F.C. Tucker Company from a report drawn from BLC® statistics on December 6, 2019. Because of delayed processing through other agencies or boards, these numbers are subject to change.

      Effective April 7, 2019, data from MIBOR only reports on single family homes and excludes condo sales. F.C. Tucker will continue to include condo sales in this report.

       “Pending” means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.

       “Active Listings – Inventory” is a snapshot frozen in time at the end of the stated month. Per MIBOR, effective April 1, 2018, “Active with Contingency” no longer is a status in the BLC® listing service in order to present a true picture in advertising and marketing. Those listings that were in the "Active with Contingency" status have been moved from the "Active" status to the "Pending" status.

      For this report, F.C. Tucker tracks the following counties: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jackson, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam and Shelby. The first report tracking Jackson County data was pulled August 7, 2019.


 

PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

County

November

2018

November

2019

Month-to-month % Change

Year-to-date
% Change

Bartholomew

59

83

40.7%

-6.4%

Boone

97

75

-22.7%

-1.4%

Brown

21

15

-28.6%

-2.5%

Decatur

23

30

30.4%

3.0%

Hamilton

418

474

13.4%

0.2%

Hancock

76

110

44.7%

15.1%

Hendricks

221

209

-5.4%

-4.3%

Jackson

37

35

-5.4%

-3.4%

Jennings

17

13

-23.5%

6.2%

Johnson

191

225

17.8%

1.4%

Madison

125

127

1.6%

5.1%

Marion

1,048

1,098

4.8%

0.9%

Montgomery

33

37

12.1%

1.5%

Morgan

76

76

0.0%

-1.7%

Putnam

28

38

35.7%

-15.8%

Shelby

45

29

-35.6%

-6.0%

TOTAL

2,515

2,674

6.3%

0.3%


 

ACTIVE LISTINGS – INVENTORY    

 

County

November

2018

November

2019

% Change

Bartholomew

198

168

-15.2%

Boone

249

269

8.0%

Brown

90

96

6.7%

Decatur

78

64

-17.9%

Hamilton

1,256

1,175

-6.4%

Hancock

253

192

-24.1%

Hendricks

422

388

-8.1%

Jackson

38

79

107.9%

Jennings

35

44

25.7%

Johnson

425

367

-13.6%

Madison

373

328

-12.1%

Marion

2,511

2,391

-4.8%

Montgomery

125

108

-13.6%

Morgan

234

194

-17.1%

Putnam

102

94

-7.8%

Shelby

96

77

-19.8%

TOTAL

6,485

6,034

-7.0%


 

AVERAGE SALE PRICE

 

County

YTD
November 2018

YTD
November 2019

% Change

Bartholomew

$210,211

$213,077

1.4%

Boone

$321,017

$339,239

5.7%

Brown

$253,315

$268,287

5.9%

Decatur

$145,407

$163,277

12.3%

Hamilton

$322,105

$337,626

4.8%

Hancock

$206,864

$223,220

7.9%

Hendricks

$220,949

$237,993

7.7%

Jackson

$133,102

$144,267

8.4%

Jennings

$118,276

$136,927

15.8%

Johnson

$212,880

$229,389

7.8%

Madison

$118,549

$128,773

8.6%

Marion

$174,379

$182,508

4.7%

Montgomery

$133,107

$142,555

7.1%

Morgan

$187,283

$202,077

7.9%

Putnam

$160,886

$175,228

8.9%

Shelby

$145,517

$152,844

5.0%

TOTAL

$214,075

$225,082

5.1%

 

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With approximately $4 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with more than 40 offices and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. Less than one percent of all real estate firms have the longevity of F.C. Tucker. Founded in 1918, the company’s family of businesses includes a full range of real estate services—mortgages, title insurance, relocation services, a full line of insurance products, auctioning and homeowner warranty products. F.C. Tucker has earned a reputation for its exceptional service, experienced sales associates and “Golden Rule” commitment to its clients and employees. For more information, visit talktotucker.com.