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Home Market Watch – September

Oct 16th, 2019 | jfinney@talktotucker.com

Central Indiana pended home sales up more than 14 percent in September

F.C. Tucker reports increased home prices and sales

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that home sales prices continue to increase, more homes are being sold and home inventory continues to decrease. September 2019 average home sale price increased to $222,752 compared to September 2018. Year-to-date, average sales price increased to $225,321 for the 16-county central Indiana region. Pended sales increased 14.1 percent, and home inventory decreased by 4 percent.

Pended sales and home prices continued to increase last month. In September 2019, 3,500 central Indiana homes were purchased, up from 3,068 sold in September 2018. Specifically:

  • Montgomery County showed the most growth in homes sold with a 50 percent increase in September 2019 compared to September 2018.
  • Brown County pended sales, however, decreased with 39.4 percent fewer homes sold last month compared to September 2018.

The seller’s market is still going strong as demonstrated by the increase in September home sale prices. Homes also left the market more quickly compared to this time last year.

  • All 16 counties F.C. Tucker tracks increased in average year-to-date home prices. Jennings County once again experienced the highest price increase at 19.6 percent compared to this time last year.
  • Boone County also continues its trend of having the highest average home price in the region at $341,143.
  • Homes sold in 38 days on average, 9.5 percent faster than year-to-date 2018. Once again, Hendricks and Marion county homes left the market the fastest at just 32 and 33 days on average, respectively.

Inventory decreased 4 percent last month, with 6,646 homes listed in September 2019. That represents 280 fewer homes available for sale than in September 2018.

  • Jackson County once again experienced the highest increase in inventory with 133.3 percent more listings than September 2018.
  • Montgomery County inventories dropped the most at 22.4 percent compared to September 2018.

“The seller’s market was alive and well in central Indiana in September,” said Jim Litten, CEO of F.C. Tucker Company. “Homes continue to leave the market quickly due to increased buyer demand, and we anticipate the strong market to continue through the end of the year.”

Of the pended home sales in the region last month, 32 were priced $2,000,000 or higher; 7 were priced $1,000,000 to $1,999,999; 147 were priced $500,000 to $999,999; 511 were priced $300,000 to $499,999; 899 were priced $200,000 to $299,999; 1,437 were priced $100,000 to $199,999; and 467 were priced at $99,999 or less.


PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

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HOME INVENTORY

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AVERAGE SALE PRICE

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