Central Indiana home sales up more than 8 percent in October,

home prices also continue upward trend

Homes continue leaving the market more quickly, according to F.C. Tucker

 

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that home sales continue their upward climb, home prices continue to increase and home inventory continues to decrease. The October 2019 average home sale price increased to $222,294 compared to October 2018. Year-to-date, average sales price increased to $225,006 for the 16-county central Indiana region. Pended home sales increased 8.7 percent, and home inventory decreased by 4.2 percent.

 

Pended sales and home prices continued to increase last month. In October 2019, 3,326 central Indiana homes were purchased, up from 3,059 sold in October 2018. Specifically:

      Boone County showed the most growth in homes sold with a more than 40 percent increase in October 2019 compared to October 2018.

      Jackson County pended sales, however, decreased with 9.1 percent fewer homes sold last month compared to October 2018.

Sellers benefited from the increase in October 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 19.2 percent compared to this time last year.

      Hamilton County had the highest average home price in the region at $337,573.

      Homes sold in 38 days on average, 7.3 percent faster than year-to-date 2018. Hendricks County homes left the market the fastest at just 31 days on average.

Inventory decreased 4.2 percent last month, with 6,744 homes listed in October 2019. That represents 294 fewer homes available for sale than in October 2018.

      Jackson County once again experienced the highest increase in inventory with 76.2 percent more listings than October 2018.

      Shelby County inventories dropped the most at 26.3 percent compared to October 2018.

 

"Buyer demand continues to exceed available inventory in central Indiana, resulting in a continued increase in home sales and prices for October,” said Jim Litten, CEO of F.C. Tucker Company. “While we may see a slight decrease around the holidays, we anticipate this strong seller’s market to continue through the new year.”

 

Of the pended home sales in the region last month, 4 were priced $2,000,000 or higher; 21 were priced $1,000,000 to $1,999,999; 138 were priced $500,000 to $999,999; 497 were priced $300,000 to $499,999; 818 were priced $200,000 to $299,999; 1,363 were priced $100,000 to $199,999; and 485 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 November 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

October

2018

October

2019

Month-to-month % Change

Year-to-date
% Change

Bartholomew

94

100

6.4%

-8.9%

Boone

79

111

40.5%

-0.2%

Brown

25

23

-8.0%

-0.8%

Decatur

26

27

3.8%

1.4%

Hamilton

529

560

5.9%

-0.2%

Hancock

101

131

29.7%

13.5%

Hendricks

229

308

34.5%

-4.1%

Jackson

44

40

-9.1%

-3.1%

Jennings

21

23

9.5%

9.6%

Johnson

251

241

-4.0%

0.2%

Madison

152

162

6.6%

5.0%

Marion

1,277

1,359

6.4%

0.7%

Montgomery

40

38

-5.0%

0.8%

Morgan

110

109

-0.9%

-1.6%

Putnam

36

48

33.3%

-18.5%

Shelby

45

46

2.2%

-3.4%

TOTAL

3,059

3,326

8.7%

0.0%



ACTIVE LISTINGS – INVENTORY    

 

County

October

2018

October

2019

% Change

Bartholomew

205

194

-5.4%

Boone

309

306

-1.0%

Brown

105

109

3.8%

Decatur

81

81

0.0%

Hamilton

1,407

1,358

-3.5%

Hancock

255

231

-9.4%

Hendricks

488

437

-10.5%

Jackson

42

74

76.2%

Jennings

39

40

2.6%

Johnson

475

417

-12.2%

Madison

382

342

-10.5%

Marion

2,665

2,618

-1.8%

Montgomery

119

114

-4.2%

Morgan

243

235

-3.3%

Putnam

109

104

-4.6%

Shelby

114

84

-26.3%

TOTAL

7,038

6,744

-4.2%

 

 

AVERAGE SALE PRICE

 

County

YTD
October 2018

YTD
October 2019

% Change

Bartholomew

$211,555

$214,731

1.5%

Boone

$319,191

$337,162

5.6%

Brown

$247,308

$266,405

7.7%

Decatur

$142,967

$162,772

13.9%

Hamilton

$320,888

$337,573

5.2%

Hancock

$206,492

$221,860

7.4%

Hendricks

$220,470

$237,247

7.6%

Jackson

$132,337

$144,125

8.9%

Jennings

$116,634

$139,074

19.2%

Johnson

$213,455

$228,605

7.1%

Madison

$117,185

$129,436

10.5%

Marion

$173,706

$182,338

5.0%

Montgomery

$131,809

$142,320

8.0%

Morgan

$187,252

$202,149

8.0%

Putnam

$161,065

$176,207

9.4%

Shelby

$145,890

$154,028

5.6%

TOTAL

$213,647

$225,006

5.3%

 

# # #

 

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.