Central Indiana home sales increase 2.2 percent in May

F.C. Tucker reports home prices continue to rise

 

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate a slight increase in homes sold as prices continue to rise in central Indiana. May 2019 pended sales increased 2.2 percent compared to May 2018 while the average year-to-date sale price for the 16-county central Indiana region increased 4.4 percent to $218,296.

 

Pended sales increased along with home prices. In May 2019, 4,221 central Indiana homes were purchased, up from 4,131 sold in May 2018. Specifically:

      Boone County showed the most growth in homes sold with a 28.2 percent increase in May 2019 compared to May 2018.

      Putnam County pended sales, however, once again decreased with 32.8 percent fewer homes sold last month compared to May 2018.

 

It continued to be a seller’s market in May as homes spent less time on the market and sold for increased prices.

      All but one of the 16 counties F.C. Tucker tracks increased in average year-to-date home prices. Marion County experienced the highest price increase at 27.9 percent compared to this time last year.

      Boone County continues to hold the highest average home price in the region at $340,281.

      Homes sold in 46 days on average, 7 days and 13.2 percent faster than year-to-date 2018. Hendricks County’s homes left the market the fastest at just 39 days on average.

 

With the addition of Jackson County to this report, inventory increased 8.2 percent last month, with 5,697 homes listed in May 2019. That represents 432 more homes available for sale than in May 2018.

      Jackson County experienced the highest increase in inventory with a significant 140.7 percent more listings than May 2018.

      Montgomery County’s inventory dropped the most at 27.7 percent compared to May 2018.

 

“Between home prices and time on the market, it’s a great time to sell as we move from spring to summer,’” said Jim Litten, CEO and owner of the F.C. Tucker Company. “Plus, with options at all price points, buyers with their financing in order are finding the right homes that meet their needs.”

 

Of the pended home sales in the region last month, none were priced $2,000,000 or higher; 24 were priced $1,000,000 to $1,999,999; 199 were priced $500,000 to $999,999; 678 were priced $300,000 to $499,999; 1,111 were priced $200,000 to $299,999; 1,615 were priced $100,000 to $199,999; and 594 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 June 7, 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 June 7, 2019.



PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

County

May

2018

May

2019

Month-to-month % Change

Year-to-date
% Change

Bartholomew

119

119

0.0%

-19.6%

Boone

110

141

28.2%

-1.9%

Brown

34

34

0.0%

-7.1%

Decatur

38

31

-18.4%

-2.3%

Hamilton

885

808

-8.7%

-6.2%

Hancock

140

160

14.3%

10.1%

Hendricks

365

369

1.1%

-11.8%

Jackson

59

57

-3.4%

-7.1%

Jennings

26

25

-3.8%

3.5%

Johnson

336

307

-8.6%

-4.8%

Madison

167

194

16.2%

7.1%

Marion

1,559

1,677

7.6%

0.2%

Montgomery

66

67

1.5%

2.6%

Morgan

104

118

13.5%

-5.8%

Putnam

67

45

-32.8%

-25.2%

Shelby

56

69

23.2%

6.6%

TOTAL

4,131

4,221

2.2%

-3.2%

 

ACTIVE LISTINGS – INVENTORY    

 

County

May

2018

May

2019

% Change

Bartholomew

186

160

-14.0%

Boone

246

264

7.3%

Brown

99

101

2.0%

Decatur

68

84

23.5%

Hamilton

1,195

1,316

10.1%

Hancock

180

233

29.4%

Hendricks

397

394

-0.8%

Jackson

27

65

140.7%

Jennings

40

44

10.0%

Johnson

362

359

-0.8%

Madison

274

274

0.0%

Marion

1,690

1,969

16.5%

Montgomery

119

86

-27.7%

Morgan

197

189

-4.1%

Putnam

96

84

-12.5%

Shelby

89

75

-15.7%

TOTAL

5,265

5,697

8.2%

 

AVERAGE SALE PRICE

 

County

YTD
May 2018

YTD
May 2019

% Change

Bartholomew

$207,019

$205,948

-0.5%

Boone

$303,470

$340,281

12.1%

Brown

$216,165

$234,163

8.3%

Decatur

$128,664

$146,353

13.7%

Hamilton

$319,108

$331.219

3.8%

Hancock

$203,751

$217,155

6.6%

Hendricks

$216,360

$230,404

6.5%

Jackson

$127,854

$135,525

6.0%

Jennings

$112,051

$133,966

19.6%

Johnson

$209,673

$225,315

7.5%

Madison

$109,255

$119,864

9.7%

Marion

$170,635

$218,296

27.9%

Montgomery

$121,175

$134,367

10.9%

Morgan

$182,470

$198,330

8.7%

Putnam

$148,320

$168,409

13.5%

Shelby

$140,621

$144,219

2.6%

TOTAL

$209,049

$218,296

4.4%

 

# # #

 

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.