Active August in Residential Real
Estate:
Increased Sales, Homes Selling Quickly Throughout Central Indiana
INDIANAPOLIS (September 11, 2024) For the
first time in the last six months, central Indiana saw an increase in pended
home sales in August. The increase in sales, coupled with greater available
inventory and homes selling quickly, created a robust residential real estate
market to end the summer. According to F.C. Tucker Company, part of the Howard
Hanna family of companies:
●
Pended home sales increased 3.7 compared to
this time last year.
●
Homes sold two days, or 6.1 percent, faster
than this time last year.
●
Available housing inventory increased 24.9
percent compared to August 2023.
●
Compared to August 2023, the average home sale
price for the 16-county central Indiana region increased 23.3 percent to
$360,000. Year-to-date 2024 home sale prices increased 4 percent.
In August 2024, 3,057 central Indiana homes
were purchased, up 3.7 percent from the 2,947 sold in August 2023.
● Jennings County had
the greatest increase in pended home sales in August 2024, up 63.2 percent
compared to this time last year.
● Montgomery County
pended sales had the greatest decrease, with 18.5 percent fewer homes sold
compared to August 2023.
Central Indiana
year-to-date home sale prices increased 4 percent overall. However, all 16
counties in central Indiana experienced price decreases in August 2024.
● Jennings County
recorded the highest average year-to-date home sale price decrease, down 35.7 percent.
● Hamilton County had
the highest average year-to-date home sale price in the region at $450,555.
● Homes
left the market in 31 days on average, selling two days, or 6.1 percent, faster
than August 2023. Boone County homes sold 46.7 percent faster than this
time last year, the greatest increase in central Indiana.
Central Indiana experienced a 24.9 percent
increase in overall available home inventory in August 2024, compared to August
2023, with 1,050 more homes available for sale.
●
Jackson
County had the largest inventory increase – up 103 percent compared to
August 2023.
●
Decatur
County and Boone County were the
only two counties with decreases in inventory – down 9.1 percent and 6 percent,
respectively, compared to this time last year.
“The central Indiana residential real estate market was active in
August, with the first increase in pended home sales we’ve seen in six months,”
said Jim Litten, president of F.C. Tucker Company.
“As interest rates continue to decrease and inventory increases, we expect the
market to continue to accelerate throughout the remainder of the year.”
Of the pended home sales in the region last month, 11 were priced
$2,000,000 or higher; 38 were priced $1,000,000 to $1,999,999; 381 were priced
$500,000 to $999,999; 1,002 were priced $300,000 to $499,999; 973 were priced
$200,000 to $299,999; 550 were priced $100,000 to $199,999; and 102 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 5, 2024. 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 2023 |
August 2024 |
Month-to-month % Change |
Year-to-date |
|
Bartholomew |
90 |
104 |
15.6% |
-0.7% |
|
Boone |
98 |
106 |
8.2% |
-3.0% |
|
Brown |
27 |
29 |
7.4% |
-7.8% |
|
Decatur |
27 |
24 |
-11.1% |
22.8% |
|
Hamilton |
507 |
512 |
1.0% |
-1.9% |
|
Hancock |
120 |
124 |
3.3% |
-7.9% |
|
Hendricks |
212 |
239 |
12.7% |
8.6% |
|
Jackson |
41 |
43 |
4.9% |
-8.3% |
|
Jennings |
19 |
31 |
63.2% |
15.7% |
|
Johnson |
209 |
242 |
15.8% |
3.2% |
|
Madison |
190 |
165 |
-13.2% |
-12.9% |
|
Marion |
1,179 |
1,178 |
-0.1% |
-2.7% |
|
Montgomery |
54 |
44 |
-18.5% |
-1.6% |
|
Morgan |
93 |
104 |
11.8% |
-3.2% |
|
Putnam |
37 |
53 |
43.2% |
4.9% |
|
Shelby |
44 |
59 |
34.1% |
-2.6% |
|
TOTAL |
2,947 |
3,057 |
3.7% |
-1.8% |
ACTIVE LISTINGS – INVENTORY
|
County |
August 2023 |
August 2024 |
% Change |
|
Bartholomew |
99 |
159 |
60.6% |
|
Boone |
168 |
158 |
-6.0% |
|
Brown |
57 |
73 |
28.1% |
|
Decatur |
55 |
50 |
-9.1% |
|
Hamilton |
594 |
754 |
26.9% |
|
Hancock |
169 |
229 |
35.5% |
|
Hendricks |
326 |
393 |
20.6% |
|
Jackson |
33 |
67 |
103.0% |
|
Jennings |
24 |
47 |
95.8% |
|
Johnson |
279 |
421 |
50.9% |
|
Madison |
254 |
266 |
4.7% |
|
Marion |
1,843 |
2,215 |
20.2% |
|
Montgomery |
55 |
70 |
27.3% |
|
Morgan |
142 |
182 |
28.2% |
|
Putnam |
52 |
102 |
96.2% |
|
Shelby |
73 |
87 |
19.2% |
|
TOTAL |
4,223 |
5,273 |
24.9% |
AVERAGE SALE PRICE
|
County |
YTD |
YTD |
% Change |
|
Bartholomew |
$295,957 |
$210,207 |
-29.0% |
|
Boone |
$485,214 |
$368,732 |
-24.0% |
|
Brown |
$458,060 |
$316,081 |
-31.0% |
|
Decatur |
$229,836 |
$186,165 |
-19.0% |
|
Hamilton |
$504,698 |
$450,555 |
-10.7% |
|
Hancock |
$331,188 |
$236,966 |
-28.4% |
|
Hendricks |
$346,452 |
$310,313 |
-10.4% |
|
Jackson |
$225,088 |
$192,038 |
-14.7% |
|
Jennings |
$192,434 |
$123,765 |
-35.7% |
|
Johnson |
$337,884 |
$279,928 |
-17.2% |
|
Madison |
$218,060 |
$169,509 |
-22.3% |
|
Marion |
$270,666 |
$237,929 |
-12.1% |
|
Montgomery |
$207,544 |
$163,066 |
-21.4% |
|
Morgan |
$304,708 |
$237,070 |
-22.2% |
|
Putnam |
$263,715 |
$195,659 |
-25.8% |
|
Shelby |
$237,209 |
$196,659 |
-17.1% |
|
TOTAL |
$334,031 |
$347,353 |
4.0% |
# # #
Founded in 1918, F.C. Tucker Company is
Indiana’s 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.
Tucker’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. We have earned
a reputation for our exceptional service, experienced sales associates and
“Golden Rule” commitment to clients and employees. In 2021, F.C. Tucker formed
a partnership with Pittsburgh-based Howard Hanna Real Estate Services, the
nation’s largest independently owned real estate brokerage firm, furthering
each company’s 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.
