Central Indiana home sales increase 2.0 percent in August

F.C. Tucker reports a decrease in inventory while home prices continue to rise

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate more homes sold in August despite higher sale prices. August 2019 pended sales increased 2.0 percent compared to August 2018 and average sales price increased to $233,945. Year-to-date, average sale price for the 16-county central Indiana region increased to $225,946.

Pended sales increased slightly last month while prices continue to rise. In August 2019, 3,830 central Indiana homes were purchased, up from 3,761 sold in August 2018. Specifically:

● Hancock County showed the most growth in homes sold with a 34.6 percent increase in August 2019 compared to August 2018.

● Shelby County pended sales, however, decreased with 19.2 percent fewer homes sold last month compared to August 2018.

In keeping with the previous month’s trends, homes sold faster and for more money in August, signaling that it’s still a seller’s market.

● All 16 counties F.C. Tucker tracks increased in average year-to-date home prices. Jennings County experienced the highest price increase at 19.3 percent compared to this time last year.

● Boone County continues to hold the highest average home price in the region at $340,439.

● Homes sold in 39 days on average, 9.3 percent faster than year-to-date 2018. Hendricks and Marion county homes left the market the fastest at just 32 and 34 days on average, respectively.

Inventory decreased 1.8 percent last month, with 6,579 homes listed in August 2019. That represents 121 fewer homes available for sale than in August 2018.

● Jackson County experienced the highest increase in inventory with a significant 131.4 percent more listings than August 2018.

● Brown County’s inventories dropped the most at 24.2 percent compared to August 2018.

"Sellers definitely felt some momentum in August,” said Jim Litten, CEO of F.C. Tucker Company. “Clearly, buyer demand is strong and with extremely low interest rates fueling more buying power, the market is poised to stay strong."

Of the pended home sales in the region last month, two were priced $2,000,000 or higher; 15 were priced $1,000,000 to $1,999,999; 148 were priced $500,000 to $999,999; 587 were priced $300,000 to $499,999; 981 were priced $200,000 to $299,999; 1,557 were priced $100,000 to $199,999; and 540 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 September 9, 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	August 2018	August 2019	Month-to-month % Change	Year-to-date % Change
Bartholomew	113	125	10.6%	-11.4%
Boone	121	123	1.7%	-2.5%
Brown	34	34	0.0%	6.2%
Decatur	31	38	22.6%	2.2%
Hamilton	663	681	2.7%	-2.2%
Hancock	107	144	34.6%	12.2%
Hendricks	320	288	-10.0%	-9.7%
Jackson	60	55	-8.3%	-3.0%
Jennings	17	20	17.6%	13.0%
Johnson	314	299	-4.8%	-0.1%
Madison	166	184	10.8%	3.3%
Marion	1,506	1,554	3.2%	-0.2%
Montgomery	66	55	-16.7%	-1.9%
Morgan	112	122	8.9%	-3.2%
Putnam	58	49	-15.5%	-23.8%
Shelby	73	59	-19.2%	-3.3%
TOTAL	3,761	3,830	1.8%	-1.7%

ACTIVE LISTINGS – INVENTORY

County	August 2018	August 2019	% Change
Bartholomew	206	171	-17.0%
Boone	301	282	-6.3%
Brown	132	100	-24.2%
Decatur	84	87	3.6%
Hamilton	1,395	1,365	-2.2%
Hancock	238	235	-1.3%
Hendricks	414	473	14.3%
Jackson	35	81	131.4%
Jennings	49	53	8.2%
Johnson	453	405	-10.6%
Madison	342	347	1.5%
Marion	2,470	2,463	-0.3%
Montgomery	117	108	-7.7%
Morgan	252	222	-11.9%
Putnam	109	104	-4.6%
Shelby	103	83	-19.4%
TOTAL	6,700	6,579	-1.8%

AVERAGE SALE PRICE

County	YTD August 2018	YTD August 2019	% Change
Bartholomew	$211,695	$218,481	3.2%
Boone	$315,995	$340,439	7.7%
Brown	$242,472	$258,799	6.7%
Decatur	$136,936	$158,335	15.6%
Hamilton	$323,736	$339,531	4.9%
Hancock	$206,061	$221,929	7.7%
Hendricks	$220,869	$235,672	6.7%
Jackson	$133,899	$140,882	5.2%
Jennings	$115,502	$137,850	19.3%
Johnson	$213,573	$230,576	8.0%
Madison	$116,602	$127,524	9.4%
Marion	$174,603	$182,951	4.8%
Montgomery	$131,484	$142,518	8.4%
Morgan	$183,162	$199,788	9.1%
Putnam	$155,493	$171,904	10.6%
Shelby	$145,464	$153,121	5.3%
TOTAL	$214,855	$225,946	5.2%

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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.