Central
Indiana residential real estate market steadily ramps up
to start the
new year
January housing prices
continue to climb in the wake of low inventory
INDIANAPOLIS
– The residential real estate market in central Indiana had a strong
start to the new year with continued rising home
prices and low inventory. Monthly real estate statistics from F.C. Tucker
Company revealed that home sales increased 3 percent compared to January 2020,
while available housing inventory decreased 53.5 percent.
●
The average
January 2021 home sale price for the 16-county central Indiana region was
$247,551, an increase of 13.6 percent.
●
Available housing
inventory dropped 53.5 percent compared to January 2020.
●
Pended home sales
increased 3 percent compared to this time last year.
In
January 2021, 3,092 central Indiana homes were purchased, up 3 percent from the
3,001 sold in January 2020. Specifically:
●
Putnam County showed
the greatest increase in the number of homes sold with 37.8 percent growth,
compared to January 2020.
● Decatur County
pended sales, however, had the greatest decrease with 14.8 percent fewer homes
sold in January 2021 compared to this time last year.
Home sale prices continued their upward climb in January 2021:
●
Jennings County
recorded the highest average home sale price increase at 94 percent, compared
to January 2020.
●
Hamilton County
had the highest average home sale price in the region at $387,545.
●
Homes sold in 28
days on average, 41.7 percent faster than in 2020. Putnam County homes left the market 86 days faster than this time
last year - the greatest decrease of the 16-county central Indiana area.
Central
Indiana experienced a 53.5 percent decrease in home inventory in January 2021.
That represents 2,487 fewer homes available for sale than in January 2020.
Every county saw home inventory decreases of 28.6 percent or higher, and 12 of
the 16 counties saw inventory decreases of 50.9 percent or higher.
● Jennings
County had the lowest inventory
decrease – 28.6 percent – compared to January 2020.
● Brown County inventory decreased the most significantly in central
Indiana – 76.1 percent – compared to this time last year.
ÒThe 2021 housing market is
steadily ramping up as is typical in January,Ó said Jim Litten,
CEO of F.C. Tucker Company. ÒWith 2020 being such an unusual year, month by
month comparisons will look a little different than they have in the past.
However, I think when we look quarter by quarter we'll see increasing consumer
confidence and an active sellerÕs market.Ó
Of the pended home sales in
the region last month, 3 were priced $2,000,000 or higher; 13 were priced
$1,000,000 to $1,999,999; 180 were priced $500,000 to $999,999; 622 were priced
$300,000 to $499,999; 856 were priced
$200,000 to $299,999; 1,081 were priced $100,000 to $199,999; and 337 were
priced at $99,999 or less.
EditorÕs Notes:
●
All statistics were compiled by F.C.
Tucker Company from a report drawn from BLC¨ statistics on February 5, 2021.
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.
●
ÒPendingÓ 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.
●
ÒActive Listings – InventoryÓ is a
snapshot frozen in time at the end of the stated month. Per MIBOR, effective April
1, 2018, ÒActive with ContingencyÓ 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 |
January 2020 |
January 2021 |
Month-to-month
% Change |
Year-to-date |
Bartholomew |
93 |
102 |
9.7% |
9.7% |
Boone |
100 |
94 |
-6.0% |
-6.0% |
Brown |
25 |
24 |
-4.0% |
-4.0% |
Decatur |
27 |
23 |
-14.8% |
-14.8% |
Hamilton |
542 |
508 |
-6.3% |
-6.3% |
Hancock |
116 |
104 |
-10.3% |
-10.3% |
Hendricks |
232 |
222 |
-4.3% |
-4.3% |
Jackson |
41 |
49 |
19.5% |
19.5% |
Jennings |
26 |
24 |
-7.7% |
-7.7% |
Johnson |
200 |
218 |
9.0% |
9.0% |
Madison |
135 |
169 |
25.2% |
25.2% |
Marion |
1,249 |
1,324 |
6.0% |
6.0% |
Montgomery |
45 |
45 |
0.0% |
0.0% |
Morgan |
92 |
89 |
-3.3% |
-3.3% |
Putnam |
37 |
51 |
37.8% |
37.8% |
Shelby |
41 |
46 |
12.2% |
12.2% |
TOTAL |
3,001 |
3,092 |
3.0% |
3.0% |
ACTIVE LISTINGS
– INVENTORY
County |
January 2020 |
January 2021 |
% Change |
Bartholomew |
149 |
41 |
-72.5% |
Boone |
212 |
61 |
-71.2% |
Brown |
71 |
17 |
-76.1% |
Decatur |
55 |
27 |
-50.9% |
Hamilton |
909 |
332 |
-63.5% |
Hancock |
168 |
82 |
-51.2% |
Hendricks |
287 |
82 |
-71.4% |
Jackson |
59 |
24 |
-59.3% |
Jennings |
35 |
25 |
-28.6% |
Johnson |
291 |
93 |
-68.0% |
Madison |
245 |
142 |
-42.0% |
Marion |
1,745 |
1,071 |
-38.6% |
Montgomery |
97 |
29 |
-70.1% |
Morgan |
159 |
65 |
-59.1% |
Putnam |
95 |
32 |
-66.3% |
Shelby |
75 |
42 |
-44.0% |
TOTAL |
4,652 |
2,165 |
-53.5% |
AVERAGE SALE PRICE
County |
YTD |
YTD |
% Change |
Bartholomew |
$173,519 |
$255,059 |
47.0% |
Boone |
$309,949 |
$336,791 |
8.7% |
Brown |
$289,053 |
$314,600 |
8.8% |
Decatur |
$163,772 |
$191,479 |
16.9% |
Hamilton |
$349,822 |
$387,545 |
10.8% |
Hancock |
$214,382 |
$237,009 |
10.6% |
Hendricks |
$235,126 |
$255,893 |
8.8% |
Jackson |
$151,555 |
$160,245 |
5.7% |
Jennings |
$107,690 |
$208,865 |
94.0% |
Johnson |
$215,229 |
$255,361 |
18.6% |
Madison |
$128,059 |
$159,659 |
24.7% |
Marion |
$174,983 |
$208,068 |
18.9% |
Montgomery |
$179,667 |
$146,594 |
-18.4% |
Morgan |
$187,692 |
$232,100 |
23.7% |
Putnam |
$159,929 |
$187,693 |
17.4% |
Shelby |
$169,948 |
$187,147 |
10.1% |
TOTAL |
$217,886 |
$247,551 |
13.6% |
# # #
With more than $5 billion in annual
sales, F.C. Tucker Company is IndianaÕs 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 companyÕs 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 ÒGolden RuleÓ commitment to its clients and employees. For more
information, visit talktotucker.com.