Increased housing inventory available to central Indiana home buyers in October;

home sale prices continue to rise

 

INDIANAPOLIS (Nov. 9, 2022) – Central Indiana saw growth in available housing inventory in October, as home prices continued to increase. F.C. Tucker Company, part of the Howard Hanna family of companies, found that central Indiana housing inventory increased 68.8 percent, compared to October 2021. Year-to-date home sale prices increased 12.9 percent, and pended home sales decreased by 27.4 percent.

      The average October home sale price for the 16-county central Indiana region was $322,813 an increase of 11.5 percent compared to October 2021.

      Pended home sales decreased, down 27.4 percent compared to this time last year.

      Available housing inventory increased, up 68.8 percent compared to October 2021.

In October 2022, 2,918 central Indiana homes were purchased, down 27.4 percent from the 4,022 sold in October 2021. Specifically:

    None of central Indiana’s 16 counties had an increase in pended home sales in October 2022.

    Brown County has the smallest decrease in pended home sales with a 6.3 percent decrease compared to October 2021.

    Putnam County pended sales had the greatest decrease with 41.2 percent fewer homes sold in October 2022 compared to this time last year.

Central Indiana year-to-date home sale prices continued to increase:

    Decatur County recorded the highest average year-to-date home sale price increase at 21.5 percent.

    Hamilton County had the highest average year-to-date home sale price in the region at $477,522.

    Homes sold in 18 days on average, which is 5.3 percent faster than in 2021. Hamilton County homes left the market 22.2 percent, or four days, more quickly than in 2021 – selling the fastest in the 16-county central Indiana area.

Central Indiana experienced a 68.8 percent increase in overall available home inventory in October 2022, with 1,981 more homes available for sale than in October 2021.

    Hamilton County had the largest inventory increase – up 177.6 percent compared to October 2021.

    Decatur County experienced the largest decrease in inventory – down 17.2 percent compared to this time last year.

 

“These are the trends we expect to see this time of year in central Indiana’s residential real estate market,” said Jim Litten, president of F.C. Tucker Company. “Despite an increase in the average sale price, the growth in available inventory offers prospective buyers more options when purchasing a home.”

 

Of the pended home sales in the region last month, three were priced $2,000,000 or higher; 28 were priced $1,000,000 to $1,999,999; 294 were priced $500,000 to $999,999; 826 were priced $300,000 to $499,999; 875 were priced $200,000 to $299,999; 704 were priced $100,000 to $199,999; and 188 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 November 7, 2022. 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

October 2021

October 2022

Month-to-month % Change

Year-to-date
% Change

Bartholomew

121

100

-17.4%

-1.1%

Boone

140

101

-27.9%

-7.1%

Brown

32

30

-6.3%

-16.6%

Decatur

35

24

-31.4%

-6.3%

Hamilton

653

501

-23.3%

-13.2%

Hancock

188

113

-39.9%

2.3%

Hendricks

283

247

-12.7%

-8.6%

Jackson

54

35

-35.2%

-1.8%

Jennings

28

18

-35.7%

-7.0%

Johnson

284

195

-31.3%

-13.1%

Madison

213

174

-18.3%

-7.8%

Marion

1,695

1,168

-31.1%

-12.4%

Montgomery

54

44

-18.5%

-7.2%

Morgan

115

90

-21.7%

4.9%

Putnam

68

40

-41.2%

1.6%

Shelby

59

38

-35.6%

7.0%

TOTAL

4,022

2,918

-27.4%

-9.8%

 

 

 


 

ACTIVE LISTINGS – INVENTORY        

 

County

October 2021

October 2022

% Change

Bartholomew

95

145

52.6%

Boone

84

210

150.0%

Brown

50

66

32.0%

Decatur

58

48

-17.2%

Hamilton

254

705

177.6%

Hancock

147

280

90.5%

Hendricks

161

309

91.9%

Jackson

51

66

29.4%

Jennings

30

29

-3.3%

Johnson

143

325

127.3%

Madison

195

306

56.9%

Marion

1,326

1,961

47.9%

Montgomery

49

79

61.2%

Morgan

119

176

47.9%

Putnam

60

84

40.0%

Shelby

59

73

23.7%

TOTAL

2,881

4,862

68.8%

 


 

AVERAGE SALE PRICE

 

County

YTD
October 2021

YTD
October 2022

% Change

Bartholomew

$256,537

$278,735

8.7%

Boone

$418,428

$464,100

10.9%

Brown

$354,125

$369,021

4.2%

Decatur

$187,652

$228,044

21.5%

Hamilton

$418,394

$477,522

14.1%

Hancock

$280,530

$324,613

15.7%

Hendricks

$288,184

$341,144

18.4%

Jackson

$184,335

$208,764

13.3%

Jennings

$171,661

$192,912

12.4%

Johnson

$294,498

$330,226

12.1%

Madison

$173,252

$194,228

12.1%

Marion

$233,808

$263,939

12.9%

Montgomery

$185,338

$197,116

6.4%

Morgan

$250,667

$292,700

16.8%

Putnam

$215,642

$243,238

12.8%

Shelby

$207,899

$243,473

17.1%

TOTAL

$281,200

$317,450

12.9%

 

# # #

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.