Central Indiana home sales rise 3.2 percent in August

Monthly real estate stats from F.C. Tucker Company indicated that the housing market is still not slowing down. August 2017 pended sales climbed 3.2 percent compared to August 2016. Similarly, the average year-to-date home price for the 15-county Central Indiana region rose 6.6 percent to $199,498.

As the numbe

Indianapolis real estate, homes for sales, home prices

r of houses available for sale continued to decline, homebuyers purchased them rapidly; 3,067 homes were purchased in Central Indiana in August, an increase from 2,973 sold in August 2016. Many of the counties that F.C. Tucker tracks experienced an increase in sales. Specifically:

  • Montgomery County showed significant growth in homes sold, a 27.3 percent increase in August 2017 compared to August 2016. Decatur County followed next behind with a 15.8 percent increase in sales.
  • Putnam and Johnson counties’ pended sales, in contrast, decreased by 31.7 and 14.2 percent, respectively, compared to August 2016.

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

  • Twelve of the 15 counties that F.C. Tucker tracks showed an uptick in average year-to-date home prices.
  • Hamilton County again ranked highest with average home prices at $303,404. Boone County’s average home prices, slightly lower than Hamilton County’s, came in at $299,743.
  • Jennings County’s average home price dropped 3.9 percent and Shelby County’s dropped 0.1 percent, the only two counties in the region to dip in August. Decatur County’s average home price remained nearly level with August 2016.
  • Homes sold in 61 days on average – and 11 days quicker – for the first eight months of 2017 compared to the same time period last year. Hendricks and Johnson counties’ homes remained the fastest-selling in the market at 56 days, while Hancock, Marion and Hamilton came in close behind with homes selling in 57, 58 and 59 days, respectively.

Listings dropped by 14.3 percent. In August 2017, inventory stood at 8,720 homes, a decrease of 1,450 compared to August 2016.

  • None of the 15 counties that F.C. Tucker tracks showed an uptick in active listings compared to August 2016. Boone County’s listings were level to the same time last year, with 350 homes available for sale.
  • Decatur County’s inventory dropped 30.3 percent, representing 40 fewer listings compared to August 2016. Not far behind, Montgomery and Jennings counties’ inventory dropped 26.3 and 26.2 percent, respectively, representing 51 and 22 fewer listings.

“Home inventory in Indiana remains tight, making it an ideal market for sellers,” said Jim Litten, CEO of F.C. Tucker Company. “However, a good selection of homes at varying price points exists, so homebuyers should not be deterred as they begin their housing search.”

Of the pended home sales in the region last month, three were priced over $2,000,000; 16 were priced $1,000,000 to $1,999,999; 116 were priced $500,000 to $999,999; 385 were priced $300,000 to $499,999; 538 were priced $200,000 to $299,999; 1,334 were priced $100,000 to $199,999; and 675 were priced at $99,999 or less.

© Kammeyer Realty Group