Central Indiana home sales increase 6.5 percent in January

F.C. Tucker reports 17.4 percent decrease in inventory as prices continue to rise

 

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the housing market started 2019 strong with a home sales increase. January 2019 pended sales increased 6.5 percent compared to January 2018 while the average year-to-date sale price for the 15-county Central Indiana region increased 6.9 percent to $205,534.

 

The new year began on a high note for sellers with more homes sold and an increase in sale prices. In January 2019, 2,594 central Indiana homes were purchased, up from 2,435 sold in January 2018. Specifically:

●      Decatur County showed the most growth in homes sold with a significant 42.9 percent increase in January 2019 compared to January 2018.

●      Brown County pended sales, however, decreased the most at 31.6 percent compared to January 2018.

 

Continuing the 2018 trend, homes spent less time on the market and most counties saw price increases.

●      Of the 15 counties F.C. Tucker tracks, all but three showed an increase in average year-to-date home prices. Brown County decreased the most with a 34.5 percent lower sale price compared to January 2018.

●      Hamilton County maintains the highest average home price in the region at $335,943. Putnam County experienced the highest price increase at 43.4 percent compared to this time last year.

●      Homes sold in 50 days on average in January 2019, 14 days and 21.9 percent faster than January 2018. Jennings CountyÕs homes were the fastest-selling in the market at only 29 days.

 

Inventory decreased in all but two counties, with 1,107 fewer homes listed than January 2018. In January 2019, inventory stood at 5,247 homes, a decrease of 17.4 percent compared to the same month in 2018.

●      Hancock County experienced the highest increase in inventory, with 4.9 percent more listings than January 2018.

●      Jennings CountyÕs inventory dropped the most at 46.9 percent compared to January 2018.

 

"Despite January's weather conditions, pended home sales and prices still outpaced last January," said Jim Litten, CEO of the F.C. Tucker Company. "The amount of inventory continues to fluctuate, however, considering all factors we expect 2019 to be another healthy year for the housing market."

 

Of the pended home sales in the region last month, two were priced $2,000,000 or higher; eight were priced $1,000,000 to $1,999,999; 107 were priced $500,000 to $999,999; 347 were priced $300,000 to $499,999; 585 were priced $200,000 to $299,999; 1,061 were priced $100,000 to $199,999; and 484 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 14, 2019. Because of delayed processing through other agencies or boards, these numbers are subject to change.

●      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.

●      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.

●      For this report, F.C. Tucker tracks the following counties: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam and Shelby.

PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

County

January

2018

January

2019

Month-to-month % Change

Year-to-date
% Change

Bartholomew

78

78

0.0%

0.0%

Boone

79

81

2.5%

2.5%

Brown

19

13

-31.6%

-31.6%

Decatur

14

20

42.9%

42.9%

Hamilton

475

489

2.9%

2.9%

Hancock

95

107

12.6%

12.6%

Hendricks

214

192

-10.3%

-10.3%

Jennings

10

13

30.0%

30.0%

Johnson

182

209

14.8%

14.8%

Madison

109

137

25.7%

25.7%

Marion

1,009

1,089

7.9%

7.9%

Montgomery

33

34

3.0%

3.0%

Morgan

53

56

5.7%

5.7%

Putnam

33

35

6.1%

6.1%

Shelby

32

41

28.1%

28.1%

TOTAL

2,435

2,594

6.5%

6.5%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACTIVE LISTINGS – INVENTORY    

 

County

January

2018

January

2019

% Change

Bartholomew

302

164

-45.7%

Boone

245

196

-20.0%

Brown

109

78

-28.4%

Decatur

77

59

-23.4%

Hamilton

1,064

1,070

0.6%

Hancock

206

216

4.9%

Hendricks

431

332

-23.0%

Jennings

64

34

-46.9%

Johnson

389

316

-18.8%

Madison

420

312

-25.7%

Marion

2,416

2,006

-17.0%

Montgomery

117

86

-26.5%

Morgan

206

200

-2.9%

Putnam

166

95

-42.8%

Shelby

142

83

-41.5%

TOTAL

6,354

5,247

-17.4%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AVERAGE SALE PRICE

 

County

YTD
January 2018

YTD
January 2019

% Change

Bartholomew

$191,306

$200,815

5.0%

Boone

$253,555

$327,129

29.0%

Brown

$249,423

$163,429

-34.5%

Decatur

$134,618

$140,500

4.4%

Hamilton

$307,490

$335,943

9.3%

Hancock

$198,680

$216,188

8.8%

Hendricks

$213,179

$233,368

9.5%

Jennings

$94,156

$98,959

5.1%

Johnson

$197,176

$214,529

8.8%

Madison

$108,689

$108,586

-0.1%

Marion

$154,595

$151,377

-2.1%

Montgomery

$119,551

$131,843

10.3%

Morgan

$166,328

$208,356

25.3%

Putnam

$149,813

$214,834

43.4%

Shelby

$148,214

$151,008

1.9%

TOTAL

$192,290

$205,534

6.9%

 

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With approximately $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.