Central Indiana home sales increase 2.0 percent in August
F.C. Tucker reports a decrease in inventory while home prices continue to rise
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate more homes sold in August despite higher sale prices. August 2019 pended sales increased 2.0 percent compared to August 2018 and average sales price increased to $233,945. Year-to-date, average sale price for the 16-county central Indiana region increased to $225,946.
Pended sales increased slightly last month while prices continue to rise. In August 2019, 3,830 central Indiana homes were purchased, up from 3,761 sold in August 2018. Specifically:
- Hancock County showed the most growth in homes sold with a 34.6 percent increase in August 2019 compared to August 2018.
- Shelby County pended sales, however, decreased with 19.2 percent fewer homes sold last month compared to August 2018.
In keeping with the previous month’s trends, homes sold faster and for more money in August, signaling that it’s still a seller’s market.
- All 16 counties F.C. Tucker tracks increased in average year-to-date home prices. Jennings County experienced the highest price increase at 19.3 percent compared to this time last year.
- Boone County continues to hold the highest average home price in the region at $340,439.
- Homes sold in 39 days on average, 9.3 percent faster than year-to-date 2018. Hendricks and Marion county homes left the market the fastest at just 32 and 34 days on average, respectively.
Inventory decreased 1.8 percent last month, with 6,579 homes listed in August 2019. That represents 121 fewer homes available for sale than in August 2018.
- Jackson County experienced the highest increase in inventory with a significant 131.4 percent more listings than August 2018.
- Brown County’s inventories dropped the most at 24.2 percent compared to August 2018.
“Sellers definitely felt some momentum in August,” said Jim Litten, CEO of F.C. Tucker Company. “Clearly, buyer demand is strong and with extremely low interest rates fueling more buying power, the market is poised to stay strong.”
Of the pended home sales in the region last month, two were priced $2,000,000 or higher; 15 were priced $1,000,000 to $1,999,999; 148 were priced $500,000 to $999,999; 587 were priced $300,000 to $499,999; 981 were priced $200,000 to $299,999; 1,557 were priced $100,000 to $199,999; and 540 were priced at $99,999 or less.
PENDED SINGLE-FAMILY AND CONDOMINIUM SALES