Central Indiana home sales increase 6.5 percent in January
F.C. Tucker reports 17.4 percent decrease in inventory as prices continue to rise
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the housing market started 2019 strong with a home sales increase. January 2019 pended sales increased 6.5 percent compared to January 2018 while the average year-to-date sale price for the 15-county Central Indiana region increased 6.9 percent to $205,534.
The new year began on a high note for sellers with more homes sold and an increase in sale prices. In January 2019, 2,594 central Indiana homes were purchased, up from 2,435 sold in January 2018. Specifically:
- Decatur County showed the most growth in homes sold with a significant 42.9 percent increase in January 2019 compared to January 2018.
- Brown County pended sales, however, decreased the most at 31.6 percent compared to January 2018.
Continuing the 2018 trend, homes spent less time on the market and most counties saw price increases.
- Of the 15 counties F.C. Tucker tracks, all but three showed an increase in average year-to-date home prices. Brown County decreased the most with a 34.5 percent lower sale price compared to January 2018.
- Hamilton County maintains the highest average home price in the region at $335,943. PutnamCounty experienced the highest price increase at 43.4 percent compared to this time last year.
- Homes sold in 50 days on average in January 2019, 14 days and 21.9 percent faster than January 2018. Jennings County’s homes were the fastest-selling in the market at only 29 days.
Inventory decreased in all but two counties, with 1,107 fewer homes listed than January 2018. In January 2019, inventory stood at 5,247 homes, a decrease of 17.4 percent compared to the same month in 2018.
- Hancock County experienced the highest increase in inventory, with 4.9 percent more listings than January 2018.
- Jennings County’s inventory dropped the most at 46.9 percent compared to January 2018.
“Despite January’s weather conditions, pended home sales and prices still outpaced last January,” said Jim Litten, CEO of the F.C. Tucker Company. “The amount of inventory continues to fluctuate, however, considering all factors we expect 2019 to be another healthy year for the housing market.”
Of the pended home sales in the region last month, two were priced $2,000,000 or higher; eight were priced $1,000,000 to $1,999,999; 107 were priced $500,000 to $999,999; 347 were priced $300,000 to $499,999; 585 were priced $200,000 to $299,999; 1,061 were priced $100,000 to $199,999; and 484 were priced at $99,999 or less.
PENDED SINGLE-FAMILY AND CONDOMINIUM SALES
ACTIVE LISTINGS – INVENTORY
AVERAGE SALE PRICE