April home sales decrease as home buyers continue to see
less inventory and increased prices
INDIANAPOLIS – Monthly real estate stats from
F.C. Tucker Company showed a stable Central Indiana real estate market. Even
with a decrease in home sales in April 2020, home prices continued to increase,
inventory continued to decrease, and homes left the market faster compared to
April 2019.
Pended home sales
decreased 23.2 percent, but the average home sale price for the 16-county
central Indiana region in April was $239,714, an increase of 9.8 percent. The
year-to-date average home sale price increased by 8.8 percent, to $233,293.
Home inventory decreased by 14.7 percent, compared to this time last year.
In April 2020,
3,110 central Indiana homes were purchased, down 23.2 percent from the 4,050
sold in April 2019. Specifically:
- Putnam County and Jennings County were the two counties showing an increase in
growth in homes sold with increases of 13.6 percent and 11.8 percent,
respectively, compared to April 2019.
- Bartholomew County pended sales had the greatest decrease with 38.1
percent fewer homes sold in April 2020 compared to April 2019.
Year-to-date home
sale prices increased, and homes also left the market more quickly compared to
this time last year.
- Brown County recorded
the highest average year-to-date home sale price increase at 18.8 percent
compared to April 2019.
- Hamilton County had the
highest average year-to-date home sale price in the region at $350,969.
- Homes
sold in 46 days on average, 8 percent faster than year-to-date 2019. Jennings
County homes left the market at 32 days on average, the fastest of the
16-county central Indiana area.
Inventory decreased 14.7 percent last
month, with 4,380 homes listed in April
2020. That represents 756 fewer homes available for sale than in April
2019.
- Jackson County once again experienced the highest increase in
inventory with 31.6 percent more listings than April 2019.
- Morgan County inventories dropped the most at 31.7 percent
compared to this time last year.
"While the
COVID-19 pandemic has been challenging for the central Indiana real estate
market, home buyers and sellers remain optimistic,Ó said Jim Litten, CEO of
F.C. Tucker Company. "As long as we continue to see a decrease in
available inventory and homes continue to sell quickly, home buyers can expect
to see prices continue their upward trend.Ó
Of the pended
home sales in the region last month,19 were priced $1,000,000 to $1,999,999;
159 were priced $500,000 to $999,999; 551 were priced $300,000 to $499,999; 875
were priced $200,000 to $299,999; 1,164 were priced $100,000 to $199,999; and
342 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 May 6,
2020. 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 |
April 2019 |
April 2020 |
Month-to-month % Change |
Year-to-date |
|
Bartholomew |
113 |
70 |
-38.1% |
-7.0% |
|
Boone |
146 |
120 |
-17.8% |
4.9% |
|
Brown |
33 |
22 |
-33.3% |
1.1% |
|
Decatur |
35 |
27 |
-22.9% |
8.7% |
|
Hamilton |
773 |
568 |
-26.5% |
-4.8% |
|
Hancock |
163 |
106 |
-35.0% |
-10.7% |
|
Hendricks |
322 |
262 |
-18.6% |
-2.2% |
|
Jackson |
44 |
36 |
-18.2% |
-12.0% |
|
Jennings |
17 |
19 |
11.8% |
36.7% |
|
Johnson |
284 |
216 |
-23.9% |
-3.9% |
|
Madison |
189 |
129 |
-31.7% |
-12.6% |
|
Marion |
1,647 |
1,301 |
-21.0% |
-4.6% |
|
Montgomery |
59 |
46 |
-22.0% |
0.0% |
|
Morgan |
123 |
90 |
-26.8% |
4.7% |
|
Putnam |
44 |
50 |
13.6% |
9.3% |
|
Shelby |
58 |
48 |
-17.2% |
-7.8% |
|
TOTAL |
4,050 |
3,110 |
-23.2% |
-4.1% |
ACTIVE LISTINGS –
INVENTORY
|
County |
April 2019 |
April 2020 |
% Change |
|
Bartholomew |
161 |
152 |
-5.6% |
|
Boone |
222 |
194 |
-12.6% |
|
Brown |
91 |
78 |
-14.3% |
|
Decatur |
58 |
40 |
-31.0% |
|
Hamilton |
1,165 |
949 |
-18.5% |
|
Hancock |
209 |
149 |
-28.7% |
|
Hendricks |
342 |
281 |
-17.8% |
|
Jackson |
38 |
50 |
31.6% |
|
Jennings |
36 |
30 |
-16.7% |
|
Johnson |
293 |
260 |
-11.3% |
|
Madison |
256 |
194 |
-24.2% |
|
Marion |
1,854 |
1,691 |
-8.8% |
|
Montgomery |
78 |
71 |
-9.0% |
|
Morgan |
180 |
123 |
-31.7% |
|
Putnam |
80 |
58 |
-27.5% |
|
Shelby |
73 |
60 |
-17.8% |
|
TOTAL |
5,136 |
4,380 |
-14.7% |
AVERAGE SALE PRICE
|
County |
YTD |
YTD |
% Change |
|
Bartholomew |
$200,510 |
$215,281 |
7.4% |
|
Boone |
$333,118 |
$347,053 |
4.2% |
|
Brown |
$219,073 |
$260,187 |
18.8% |
|
Decatur |
$138,434 |
$158,582 |
14.6% |
|
Hamilton |
$330,547 |
$350,969 |
6.2% |
|
Hancock |
$215,291 |
$231,378 |
7.5% |
|
Hendricks |
$230,054 |
$246,863 |
7.3% |
|
Jackson |
$132,805 |
$154,641 |
16.4% |
|
Jennings |
$124,674 |
$141,762 |
13.7% |
|
Johnson |
$220,177 |
$229,692 |
4.3% |
|
Madison |
$115,854 |
$132,650 |
14.5% |
|
Marion |
$170,776 |
$192,176 |
12.5% |
|
Montgomery |
$126,250 |
$145,279 |
15.1% |
|
Morgan |
$190,165 |
$202,734 |
6.6% |
|
Putnam |
$164,117 |
$171,527 |
4.5% |
|
Shelby |
$146,339 |
$164,193 |
12.2% |
|
TOTAL |
$214,343 |
$233,293 |
8.8% |
# # #
With more than
$4 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.
