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Home Market Watch – June

Jul 16th, 2019 | jfinney@talktotucker.com

Central Indiana home sales increase 6.5 percent in June

F.C. Tucker reports a decrease in inventory while home prices continue to rise

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate home sales continue to increase despite low inventory and higher sale prices. June 2019 pended sales increased 6.5 percent compared to June 2018 while the average year-to-date sale price for the 16-county central Indiana region increased 4.3 percent to $222,538.

Central Indiana continues to see rising pended sales. In June 2019, 4,091 central Indiana homes were purchased, up from 3,841 sold in June 2018. Specifically:

  • Brown County showed the most growth in homes sold with a 62.5 percent increase in June 2019 compared to June 2018.
  • Shelby County pended sales, however, decreased with 19.7 percent fewer homes sold last month compared to June 2018.

On average homes sold much faster and for more money in June, meaning it’s still a strong seller’s market.

  • All 16 counties F.C. Tucker tracks increased in average year-to-date home prices. Jennings County experienced the highest price increase at 18.5 percent compared to this time last year.
  • Boone County continues to hold the highest average home price in the region at $347,287.
  • Homes sold in 43 days on average, 10.4 percent faster than year-to-date 2018. Hendricks and Marion County’s homes left the market the fastest at just 36 and 37 days on average, respectively.

The market continues to see fewer homes for sale as inventory decreased 0.7 percent last month. In June 2019, 5,977 homes were listed, 43 fewer than in June 2018.

  • Jackson County experienced the highest increase in inventory with a significant 169 percent more listings than June 2018.
  • Bartholomew County’s and Putnam County’s inventories dropped the most at 19.6 percent compared to June 2018.

“While low inventory affects affordability, we’re optimistic the market will continue to offer homes of all price ranges to buyers while sellers can list homes that leave the market quickly at competitive prices,” said Jim Litten, CEO and owner of the F.C. Tucker Company.

Of the pended home sales in the region last month, three were priced $2,000,000 or higher; 15 were priced $1,000,000 to $1,999,999; 214 were priced $500,000 to $999,999; 670 were priced $300,000 to $499,999; 1,053 were priced $200,000 to $299,999; 1,601 were priced $100,000 to $199,999; and 535 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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