Central Indiana home sales increase 2.2 percent in May

F.C. Tucker reports home prices continue to rise

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate a slight increase in homes sold as prices continue to rise in central Indiana. May 2019 pended sales increased 2.2 percent compared to May 2018 while the average year-to-date sale price for the 16-county central Indiana region increased 4.4 percent to $218,296.

Pended sales increased along with home prices. In May 2019, 4,221 central Indiana homes were purchased, up from 4,131 sold in May 2018. Specifically:

● Boone County showed the most growth in homes sold with a 28.2 percent increase in May 2019 compared to May 2018.

● Putnam County pended sales, however, once again decreased with 32.8 percent fewer homes sold last month compared to May 2018.

It continued to be a seller’s market in May as homes spent less time on the market and sold for increased prices.

● All but one of the 16 counties F.C. Tucker tracks increased in average year-to-date home prices. Marion County experienced the highest price increase at 27.9 percent compared to this time last year.

● Boone County continues to hold the highest average home price in the region at $340,281.

● Homes sold in 46 days on average, 7 days and 13.2 percent faster than year-to-date 2018. Hendricks County’s homes left the market the fastest at just 39 days on average.

With the addition of Jackson County to this report, inventory increased 8.2 percent last month, with 5,697 homes listed in May 2019. That represents 432 more homes available for sale than in May 2018.

● Jackson County experienced the highest increase in inventory with a significant 140.7 percent more listings than May 2018.

● Montgomery County’s inventory dropped the most at 27.7 percent compared to May 2018.

“Between home prices and time on the market, it’s a great time to sell as we move from spring to summer,’” said Jim Litten, CEO and owner of the F.C. Tucker Company. “Plus, with options at all price points, buyers with their financing in order are finding the right homes that meet their needs.”

Of the pended home sales in the region last month, none were priced $2,000,000 or higher; 24 were priced $1,000,000 to $1,999,999; 199 were priced $500,000 to $999,999; 678 were priced $300,000 to $499,999; 1,111 were priced $200,000 to $299,999; 1,615 were priced $100,000 to $199,999; and 594 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 June 7, 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 June 7, 2019.

PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

County	May 2018	May 2019	Month-to-month % Change	Year-to-date % Change
Bartholomew	119	119	0.0%	-19.6%
Boone	110	141	28.2%	-1.9%
Brown	34	34	0.0%	-7.1%
Decatur	38	31	-18.4%	-2.3%
Hamilton	885	808	-8.7%	-6.2%
Hancock	140	160	14.3%	10.1%
Hendricks	365	369	1.1%	-11.8%
Jackson	59	57	-3.4%	-7.1%
Jennings	26	25	-3.8%	3.5%
Johnson	336	307	-8.6%	-4.8%
Madison	167	194	16.2%	7.1%
Marion	1,559	1,677	7.6%	0.2%
Montgomery	66	67	1.5%	2.6%
Morgan	104	118	13.5%	-5.8%
Putnam	67	45	-32.8%	-25.2%
Shelby	56	69	23.2%	6.6%
TOTAL	4,131	4,221	2.2%	-3.2%

ACTIVE LISTINGS – INVENTORY

County	May 2018	May 2019	% Change
Bartholomew	186	160	-14.0%
Boone	246	264	7.3%
Brown	99	101	2.0%
Decatur	68	84	23.5%
Hamilton	1,195	1,316	10.1%
Hancock	180	233	29.4%
Hendricks	397	394	-0.8%
Jackson	27	65	140.7%
Jennings	40	44	10.0%
Johnson	362	359	-0.8%
Madison	274	274	0.0%
Marion	1,690	1,969	16.5%
Montgomery	119	86	-27.7%
Morgan	197	189	-4.1%
Putnam	96	84	-12.5%
Shelby	89	75	-15.7%
TOTAL	5,265	5,697	8.2%

AVERAGE SALE PRICE

County	YTD May 2018	YTD May 2019	% Change
Bartholomew	$207,019	$205,948	-0.5%
Boone	$303,470	$340,281	12.1%
Brown	$216,165	$234,163	8.3%
Decatur	$128,664	$146,353	13.7%
Hamilton	$319,108	$331.219	3.8%
Hancock	$203,751	$217,155	6.6%
Hendricks	$216,360	$230,404	6.5%
Jackson	$127,854	$135,525	6.0%
Jennings	$112,051	$133,966	19.6%
Johnson	$209,673	$225,315	7.5%
Madison	$109,255	$119,864	9.7%
Marion	$170,635	$218,296	27.9%
Montgomery	$121,175	$134,367	10.9%
Morgan	$182,470	$198,330	8.7%
Putnam	$148,320	$168,409	13.5%
Shelby	$140,621	$144,219	2.6%
TOTAL	$209,049	$218,296	4.4%

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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.