December 2019 Central Indiana home sales up 4.4 percent as prices increased and inventory decreased
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the year 2019 ended with a continued upward trend for both home sales and home prices in Central Indiana, while homes are also left the market more quickly. The December 2019 average home sale price increased to $217,302 compared to this time last year. Year-to-date, average sales price increased to $225,616 for the 16-county central Indiana region. Pended home sales increased 4.4 percent, and home inventory decreased by 8.7 percent.
Pended sales continued to increase last month. In December 2019, 2,152 central Indiana homes were purchased, up from 2,061 sold in December 2018. Specifically:
- Madison County showed the most growth in homes sold with a 54.1 percent increase in December 2019 compared to December 2018.
- Decatur County pended sales, however, decreased with almost 41 percent fewer homes sold last month compared to December 2018.
Sellers once again benefited from the increase in December 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 16 percent compared to this time last year.
- Boone County had the highest average home price in the region at $340,212.
- Homes sold in 38 days on average, 7.3 percent faster than year-to-date 2019. Homes in Hendricks, Johnson and Marion counties all saw homes leaving the market at 33 days on average, the fastest of the 16-county central Indiana area.
Inventory decreased 8.7 percent last month, with 5,252 homes listed in December 2019. That represents 498 fewer homes available for sale than in December 2018.
- Jackson County once again experienced the highest increase in inventory with 44.2 percent more listings than December 2018.
- Bartholomew County inventories dropped the most at 24.5 percent compared to December 2018.
“Even with the December holidays, we are ending 2019 with a robust central Indiana housing market,” said Jim Litten, CEO of F.C. Tucker Company. “Low housing inventory continues to favor sellers, with prices increasing and homes selling more quickly compared to this time last year.”
Of the pended home sales in the region last month, 1 was priced $2,000,000 or higher; 8 were priced $1,000,000 to $1,999,999; 92 were priced $500,000 to $999,999; 342 were priced $300,000 to $499,999; 520 were priced $200,000 to $299,999; 854 were priced $100,000 to $199,999; and 335 were priced at $99,999 or less.
PENDED SINGLE-FAMILY AND CONDOMINIUM SALES
ACTIVE LISTINGS – INVENTORY
AVERAGE SALE PRICE