Central
Indiana Home Buyers Benefit from May Residential Real Estate Market Inventory
Increase
INDIANAPOLIS – May 2022 was a favorable month for central
Indiana home buyers with all 16 central Indiana
counties experiencing significant increases in available housing inventory.
Monthly real estate statistics from F.C. Tucker Company revealed that May 2022
pended home sales decreased 2.2 percent compared to May 2021, while
year-to-date home sale prices increased 13.4 percent. Central Indiana housing
inventory increased 35.6 percent compared to this time last year.
●
The average May
home sale price for the 16-county central Indiana region was $332,405 an
increase of 14.4 percent compared to May 2021.
●
Pended home sales
decreased, down 2.2 percent compared to this time last year.
●
Available housing
inventory increased, up 35.6 percent compared to May 2021.
In
May 2022, 4,210 central Indiana homes were purchased, down 2.2 percent from the
4,303 sold in May 2021. Specifically:
●
Shelby County showed
the greatest increase in pended home sales with 33.3 percent growth compared to
May 2021.
● Brown County
pended sales had the greatest decrease with 47.6 percent fewer homes sold in
May 2022 compared to this time last year.
The year-to-date sale price of homes in central Indiana continued its
upward climb:
●
Decatur County
recorded the highest average year-to-date home sale price increase at 31.4
percent.
●
Boone County
had the highest average home sale price in the region at $468,431.
●
Homes sold in 19
days on average, 20.8 percent faster than in 2021. Homes in Shelby County left the market 10 days,
or 33.3 percent, faster than in 2021 - the greatest decrease of the 16-county
central Indiana area.
Central
Indiana experienced a 35.6 percent increase in overall available home inventory
May 2022, with 677 more homes available for sale than in May 2021. All 16
counties saw an inventory increase in May 2022.
● Boone County had the largest inventory increase – up 166.7
percent compared to May 2021.
ÒAlthough home prices continued to rise in May, we saw a substantial increase in housing inventory compared to this time last year,Ó said Jim Litten, CEO of F.C. Tucker. ÒAs interest rates continue to creep during the summer months, I anticipate the housing inventory will become even more robust and we will start to see a return to a more balanced market.Ó
Of the pended home sales in
the region last month, one (1) was priced $2,000,000 or higher; 61 were priced
$1,000,000 to $1,999,999; 474 were priced $500,000 to $999,999; 1,314 were
priced $300,000 to $499,999; 1,283 were priced $200,000 to $299,999; 895 were
priced $100,000 to $199,999; and 182 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 June 7, 2022.
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 |
May 2021 |
May 2022 |
Month-to-month
% Change |
Year-to-date |
|
Bartholomew |
138 |
162 |
17.4% |
11.6% |
|
Boone |
145 |
149 |
2.8% |
3.3% |
|
Brown |
42 |
22 |
-47.6% |
-15.7% |
|
Decatur |
36 |
23 |
-36.1% |
-11.0% |
|
Hamilton |
749 |
784 |
4.7% |
-6.9% |
|
Hancock |
181 |
202 |
11.6% |
18.1% |
|
Hendricks |
305 |
325 |
6.6% |
1.9% |
|
Jackson |
49 |
51 |
4.1% |
-0.4% |
|
Jennings |
23 |
22 |
-4.3% |
3.0% |
|
Johnson |
322 |
283 |
-12.1% |
-3.1% |
|
Madison |
221 |
192 |
-13.1% |
1.6% |
|
Marion |
1,802 |
1,668 |
-7.4% |
-4.4% |
|
Montgomery |
71 |
55 |
-22.5% |
-4.6% |
|
Morgan |
113 |
148 |
31.0% |
30.3% |
|
Putnam |
58 |
60 |
3.4% |
16.6% |
|
Shelby |
48 |
64 |
33.3% |
36.7% |
|
TOTAL |
4,303 |
4,210 |
-2.2% |
-0.7% |
ACTIVE LISTINGS
– INVENTORY
|
County |
May 2021 |
May 2022 |
% Change |
|
Bartholomew |
71 |
94 |
32.4% |
|
Boone |
57 |
152 |
166.7% |
|
Brown |
36 |
53 |
47.2% |
|
Decatur |
29 |
33 |
13.8% |
|
Hamilton |
231 |
346 |
49.8% |
|
Hancock |
53 |
122 |
130.2% |
|
Hendricks |
84 |
162 |
92.9% |
|
Jackson |
21 |
41 |
95.2% |
|
Jennings |
15 |
20 |
33.3% |
|
Johnson |
88 |
138 |
56.8% |
|
Madison |
110 |
168 |
52.7% |
|
Marion |
956 |
1,005 |
5.1% |
|
Montgomery |
33 |
45 |
36.4% |
|
Morgan |
71 |
98 |
38.0% |
|
Putnam |
21 |
52 |
147.6% |
|
Shelby |
28 |
50 |
78.6% |
|
TOTAL |
1,904 |
2,581 |
35.6% |
AVERAGE SALE PRICE
|
County |
YTD |
YTD |
% Change |
|
Bartholomew |
$253,030 |
$266,904 |
5.5% |
|
Boone |
$409,019 |
$468,431 |
14.5% |
|
Brown |
$299,125 |
$332,526 |
11.2% |
|
Decatur |
$177,873 |
$233,699 |
31.4% |
|
Hamilton |
$406,985 |
$461,865 |
13.5% |
|
Hancock |
$265,331 |
$313,967 |
18.3% |
|
Hendricks |
$277,175 |
$331,180 |
19.5% |
|
Jackson |
$176,600 |
$202,622 |
14.7% |
|
Jennings |
$164,118 |
$178,878 |
9.0% |
|
Johnson |
$279,487 |
$320,715 |
14.8% |
|
Madison |
$166,819 |
$180,742 |
8.3% |
|
Marion |
$222,652 |
$257,209 |
15.5% |
|
Montgomery |
$170,853 |
$194,293 |
13.7% |
|
Morgan |
$237,569 |
$272,645 |
14.8% |
|
Putnam |
$196,124 |
$246,592 |
25.7% |
|
Shelby |
$210,855 |
$235,133 |
11.5% |
|
TOTAL |
$269,146 |
$305,325 |
13.4% |
# # #
Founded in 1918, F.C. Tucker Company
is IndianaÕs largest independently owned comprehensive real estate firm with
more than $5 billion in annual sales, more than 40 offices, and more than 1,500
sales associates throughout Indiana and select markets in Kentucky. F.C.
TuckerÕs 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. We have earned
a reputation for our exceptional service, experienced sales associates and
ÒGolden RuleÓ commitment to clients and employees. In 2021, F.C. Tucker formed
a partnership with Pittsburgh-based Howard Hanna Real Estate Services, the
nationÕs largest independently owned real estate brokerage firm, furthering
each companyÕs ability to provide best-in-class service and enhance the real
estate experience for clients by providing best-in-class agents, products and
services. For more information, visit talktotucker.com.
