Central Indiana home sales up nearly 9 percent year to date
Inventory tightens by more than 9 percent; Sale prices increase more than 5 percent year to date
INDIANAPOLIS – F.C. Tucker Company reported more than 19,000 pended home sales in the first seven months of the year, resulting in a year-to-date increase of 8.9 percent compared to this time last year. Year-to-date sale prices also increased more than 5 percent. The average year-to-date sale price for a home in the nine-county area was $185,529.
July 2015 pended home sales, however, slipped 4.5 percent compared to July 2014. F.C. Tucker reported 2,602 homes sold, a modest decline of 123 homes. Four of the nine Central Indiana counties reported decreased sales compared to July 2014.
In July, Hancock County home sales surged 28.3 percent, raising the number of pended home sales to 127 from 99 in July 2014. Boone County saw an increase of 3.7 percent, while Madison, Marion and Johnson experienced smaller increases. Hendricks County saw the biggest decline, decreasing 18.5 percent compared to July of last year. Hamilton, Morgan and Shelby experienced smaller decreases.
“We’re seeing the best July in the last five years in terms of sale prices, which have increased more than $34,000 on average,” said Jim Litten, president of F.C. Tucker Company. “Meanwhile, the number of available homes on the market is the lowest we’ve experienced in five years – all pointing to a more balanced, stable market that tends to benefit sellers.”
Available homes for sale in the nine-county region decreased 9.2 percent in July 2015 with 11,233 homes on the market, 1,138 fewer than in July 2014. All nine counties experienced varying inventory declines with Madison and Shelby counties tightening 23.5 and 17.3 percent, respectively. Boone, Hamilton, Hancock, Hendricks, Johnson, Marion and...