Central Indiana home sales increase 5 percent in July
F.C. Tucker continues to report higher sale prices as home sales increase once again
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate a decrease in inventory as sale prices continue to climb. July 2019 pended sales increased 5 percent compared to July 2018, while the average year-to-date sale price for the 16-county central Indiana region increased 4.5 percent to $224,479.
Central Indiana continues to see rising pended sales. In July 2019, 3,966 central Indiana homes were purchased, up from 3,778 sold in July 2018. Specifically:
- Jennings County showed the most growth in homes sold with a 36.4 percent increase in July 2019 compared to July 2018.
- Putnam County pended sales, however, decreased with 35.3 percent fewer homes sold last month compared to July 2018.
On average homes sold much faster and for more money in July, 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 18.9 percent compared to this time last year.
- Boone County continues to hold the highest average home price in the region at $343,513.
- Homes sold in 40 days on average, 11.1 percent faster than year-to-date 2018. Hendricks, Johnson and Marion county homes left the market the fastest at just 33 days on average in Hendricks County and 36 days on average in both Johnson and Marion counties.
The market continues to see fewer homes for sale as inventory decreased 0.5 percent last month. In July 2019, 6,302 homes were listed, 33 fewer than in July 2018.
- Jackson County experienced the highest increase in inventory with a significant 140.6 percent more listings than July 2018.
- Montgomery County’s inventories dropped the most at 21.3 percent compared to July 2018.
“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, one was priced $2,000,000 or higher; 13 were priced $1,000,000 to $1,999,999; 187 were priced $500,000 to $999,999; 640 were priced $300,000 to $499,999; 1,010 were priced $200,000 to $299,999; 1,593 were priced $100,000 to $199,999; and 522 were priced at $99,999 or less.
PENDED SINGLE-FAMILY AND CONDOMINIUM SALES