Central Indiana home sales rise 3.2 percent in August

F.C. Tucker reports continued growth in housing sales as prices maintain upward momentum

 

 

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicated that the housing market is still not slowing down. August 2017 pended sales climbed 3.2 percent compared to August 2016. Similarly, the average year-to-date home price for the 15-county Central Indiana region rose 6.6 percent to $199,498.

 

As the number of houses available for sale continued to decline, homebuyers purchased them rapidly; 3,067 homes were purchased in Central Indiana in August, an increase from 2,973 sold in August 2016. Many of the counties that F.C. Tucker tracks experienced an increase in sales. Specifically:

Š       Montgomery County showed significant growth in homes sold, a 27.3 percent increase in August 2017 compared to August 2016. Decatur County followed next behind with a 15.8 percent increase in sales.

Š       Putnam and Johnson counties’ pended sales, in contrast, decreased by 31.7 and 14.2 percent, respectively, compared to August 2016.

 

In keeping with the previous month’s trends, homes sold more quickly and for more money in August, signaling that it’s still a strong seller’s market.

Š       Twelve of the 15 counties that F.C. Tucker tracks showed an uptick in average year-to-date home prices.  

Š       Hamilton County again ranked highest with average home prices at $303,404. Boone County’s average home prices, slightly lower than Hamilton County’s, came in at $299,743.

Š       Jennings County’s average home price dropped 3.9 percent and Shelby County’s dropped 0.1 percent, the only two counties in the region to dip in August. Decatur County’s average home price remained nearly level with August 2016.

Š       Homes sold in 61 days on average – and 11 days quicker – for the first eight months of 2017 compared to the same time period last year. Hendricks and Johnson counties’ homes remained the fastest-selling in the market at 56 days, while Hancock, Marion and Hamilton came in close behind with homes selling in 57, 58 and 59 days, respectively.

 

Listings dropped by 14.3 percent. In August 2017, inventory stood at 8,720 homes, a decrease of 1,450 compared to August 2016.

Š       None of the 15 counties that F.C. Tucker tracks showed an uptick in active listings compared to August 2016. Boone County’s listings were level to the same time last year, with 350 homes available for sale.

Š       Decatur County’s inventory dropped 30.3 percent, representing 40 fewer listings compared to August 2016. Not far behind, Montgomery and Jennings counties’ inventory dropped 26.3 and 26.2 percent, respectively, representing 51 and 22 fewer listings.

 

“Home inventory in Indiana remains tight, making it an ideal market for sellers,” said Jim Litten, CEO of F.C. Tucker Company. “However, a good selection of homes at varying price points exists, so homebuyers should not be deterred as they begin their housing search.”

 

Of the pended home sales in the region last month, three were priced over $2,000,000; 16 were priced $1,000,000 to $1,999,999; 116 were priced $500,000 to $999,999; 385 were priced $300,000 to $499,999; 538 were priced $200,000 to $299,999; 1,334 were priced $100,000 to $199,999; and 675 were priced at $99,999 or less.

 

Editor’s Notes:

Š       All statistics were compiled by F.C. Tucker Company from a report drawn from BLC® statistics on September 13, 2017. Because of delayed processing through other agencies or boards, these numbers are subject to change.

Š       “Active Listings – Inventory” is a snapshot frozen in time at the end of the stated month. Active listings include “Active with Contingency Status” filings, which includes homes listed as Pending First Right of Refusal and/or Backup Pendings due to Contract, Financing, Inspection or Other.

Š       “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.

Š       For this report, F.C. Tucker tracks the following counties: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam and Shelby.

 

 

PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

County

August

2016

August

2017

Month-to-month % Change

Year-to-date
% Change

Bartholomew

119

109

-8.4%

3.9%

Boone

107

108

0.9%

-6.2%

Brown

31

32

3.2%

3.4%

Decatur

19

22

15.8%

10.1%

Hamilton

503

563

11.9%

2.8%

Hancock

115

128

11.3%

3.5%

Hendricks

229

257

12.2%

6.2%

Jennings

19

21

10.5%

7.2%

Johnson

233

200

-14.2%

-6.3%

Madison

151

153

1.3%

9.3%

Marion

1,190

1,233

3.6%

4.9%

Montgomery

44

56

27.3%

-3.6%

Morgan

104

93

-10.6%

-2.7%

Putnam

63

43

-31.7%

-9.7%

Shelby

46

49

6.5%

5.7%

TOTAL

2,973

3,067

3.2%

2.9%

 

 

 

ACTIVE LISTINGS – INVENTORY    

 

County

August

2016

August

2017

% Change

Bartholomew

334

325

-2.7%

Boone

350

350

0.0%

Brown

176

165

-6.3%

Decatur

132

92

-30.3%

Hamilton

1,789

1,690

-5.5%

Hancock

346

299

-13.6%

Hendricks

739

677

-8.4%

Jennings

84

62

-26.2%

Johnson

670

632

-5.7%

Madison

570

460

-19.3%

Marion

4,023

3,176

-21.1%

Montgomery

194

143

-26.3%

Morgan

374

318

-15.0%

Putnam

197

168

-14.7%

Shelby

192

163

-15.1%

TOTAL

10,170

8,720

-14.3%

 

 

 

 

AVERAGE SALE PRICE

 

County

YTD
August 2016

YTD
August 2017

% Change

Bartholomew

$193,072

$200,069

3.6%

Boone

$288,544

$299,743

3.9%

Brown

$190,356

$224,472

17.9%

Decatur

$132,911

$132,977

0.0%

Hamilton

$284,539

$303,404

6.6%

Hancock

$177,746

$188,335

6.0%

Hendricks

$191,575

$209,797

9.5%

Jennings

$110,676

$106,340

-3.9%

Johnson

$186,250

$203,896

9.5%

Madison

$97,503

$105,448

8.1%

Marion

$148,560

$159,995

7.7%

Montgomery

$111,929

$124,873

11.6%

Morgan

$165,900

$174,989

5.5%

Putnam

$128,953

$148,629

15.3%

Shelby

$127,652

$127,582

-0.1%

TOTAL

$187,172

$199,498

6.6%

 

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With approximately $3.7 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.