Central Indiana home sales up more than 8 percent in October, home prices also continue upward trend
Homes continue leaving the market more quickly, according to F.C. Tucker
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that home sales continue their upward climb, home prices continue to increase and home inventory continues to decrease. The October 2019 average home sale price increased to $222,294 compared to October 2018. Year-to-date, average sales price increased to $225,006 for the 16-county central Indiana region. Pended home sales increased 8.7 percent, and home inventory decreased by 4.2 percent.
Pended sales and home prices continued to increase last month. In October 2019, 3,326 central Indiana homes were purchased, up from 3,059 sold in October 2018. Specifically:
- Boone County showed the most growth in homes sold with a more than 40 percent increase in October 2019 compared to October 2018.
- Jackson County pended sales, however, decreased with 9.1 percent fewer homes sold last month compared to October 2018.
Sellers benefited from the increase in October home sale prices and from homes leaving 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 19.2 percent compared to this time last year.
- Hamilton County had the highest average home price in the region at $337,573.
- Homes sold in 38 days on average, 7.3 percent faster than year-to-date 2018. Hendricks County homes left the market the fastest at just 31 days on average.
Inventory decreased 4.2 percent last month, with 6,744 homes listed in October 2019. That represents 294 fewer homes available for sale than in October 2018.
- Jackson County once again experienced the highest increase in inventory with 76.2 percent more listings than October 2018.
- Shelby County inventories dropped the most at 26.3 percent compared to October 2018.
“Buyer demand continues to exceed available inventory in central Indiana, resulting in a continued increase in home sales and prices for October,” said Jim Litten, CEO of F.C. Tucker Company. “While we may see a slight decrease around the holidays, we anticipate this strong seller’s market to continue through the new year.”
Of the pended home sales in the region last month, 4 were priced $2,000,000 or higher; 21 were priced $1,000,000 to $1,999,999; 138 were priced $500,000 to $999,999; 497 were priced $300,000 to $499,999; 818 were priced $200,000 to $299,999; 1,363 were priced $100,000 to $199,999; and 485 were priced at $99,999 or less.
PENDED SINGLE-FAMILY AND CONDOMINIUM SALES