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Home Market Watch – May

Jun 14th, 2019 | jfinney@talktotucker.com

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.

PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

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ACTIVE LISTINGS – INVENTORY 

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AVERAGE SALE PRICE

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