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Home Market Watch – March

Apr 24th, 2019 | jfinney@talktotucker.com

Central Indiana home sales drop 14.7 percent in March

F.C. Tucker reports 11.6 percent increase in inventory as prices continue to rise

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate a decrease in homes sold as sale prices continue to climb. March 2019 pended sales decreased 14.7 percent compared to March 2018 while the average year-to-date sale price for the 15-county Central Indiana region increased 6.1 percent to $212,214.

Fewer homes sold in 14 of the 15 counties F.C. Tucker tracks compared to March 2018. In March 2019, 3,615 central Indiana homes were purchased, down from 4,240 sold in March 2018. Specifically:

  • Shelby County showed the most growth in homes sold with a 7.7 percent increase in March 2019 compared to March 2018. 
  • Putnam County pended sales, however, decreased the most at 39.3 percent compared to March 2018.

Despite the decreased home sales, houses spent less time on the market and increased in average year-to-date home prices in all but three counties.

  • Shelby County decreased the most with a 6.2 percent lower sale price compared to March 2018, while Putnam County experienced the highest price increase at 19.4 percent compared to this time last year.
  • Boone County had the highest average home price in the region at $337,242 as Hamilton County dropped to second highest price at $328,590 for the first time in over a year. 
  • Homes sold in 53 days on average, 12 days and 18.5 percent faster than year-to-date 2018. Johnson and Putnam County’s homes were the fastest-selling in the market at 46 days.

Inventory continues to increase in 2019, with 504 more homes listed than March 2018. In March 2019, inventory stood at 4,850 homes, an increase of 11.6 percent compared to the same month in 2018.

  • Marion County experienced the highest increase in inventory, with 32.6 percent more listings than March 2018.
  • Jennings County’s inventory dropped the most at 30.0 percent compared to March 2018.

“Central Indiana remains a seller’s market as housing prices continue to increase and homes leave the market faster,” said Jim Litten, CEO and owner of the F.C. Tucker Company. “Despite fewer home sales, Indianapolis is still a strong housing market compared to other cities around the country, and buyers have multiple housing options to choose from at all prices.”



PENDED SINGLE-FAMILY AND CONDOMINIUM SALES


ACTIVE LISTINGS – INVENTORY  


ACTIVE LISTINGS – INVENTORY  


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