F.C Tucker reports continued decrease in home inventory – Central Indiana home sales up more than 6 percent in November as home prices continue trending upward
Indianapolis – Monthly real estate stats from F.C. Tucker Company indicate that home sales continue climbing, while home prices increase and homes continue leaving the market more quickly. The November 2019 average home sale price increased to $225,545 compared to November 2018. Year-to-date, average sales price increased to $225,082 for the 16-county central Indiana region. Pended home sales increased 6.3 percent, and home inventory decreased by 7.0 percent.
Pended sales continued to increase last month. In November 2019, 2,674 central Indiana homes were purchased, up from 2,515 sold in November 2018. Specifically:
- Hancock County showed the most growth in homes sold with an almost 45 percent increase in November 2019 compared to November 2018.
- Shelby County pended sales, however, decreased with more than 35 percent fewer homes sold last month compared to November 2018.
Sellers once again benefited from the increase in November 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 15.8 percent compared to this time last year.
- Boone County had the highest average home price in the region at $339,239.
- Homes sold in 37 days on average, 9.8 percent faster than year-to-date 2018. Hendricks County homes left the market the fastest at just 32 days on average.
Inventory decreased 7.0 percent last month, with 6,034 homes listed in November 2019. That represents 451 fewer homes available for sale than in November 2018.
- Jackson County once again experienced the highest increase in inventory with 107.9 percent more listings than November 2018.
- Hancock County inventories dropped the most at 24.1 percent compared to November 2018.
“The number of available homes in central Indiana continues to decrease, while home sales and prices increased again in November,” said Jim Litten, CEO of F.C. Tucker Company. “We typically see a slight decrease in home sales near the holidays, but the seller’s market continues to be strong and will remain strong for the foreseeable future.”