Central Indiana home sales up in December, year to date
Inventory tightens by 8.7 percent, while sales prices are up year to date over 2014
INDIANAPOLIS – The year finished on a high note, with 2015 showing an 8 percent increase in pended home sales over 2014, according to F.C. Tucker Company statistics of the nine-county central Indiana region. More than 31,000 homes sold in 2015, up from approximately 29,000 last year. The average selling price of a home also rose each month of the year as available inventory declined during 11 months of 2015.
In December 2015, the region had 1,645 pended home sales, which was up slightly from the 1,636 sales in December 2014. Johnson County saw the largest increase in pended home sales, raising the number of sales to 152, or 12.6 percent, from 135 in December 2014. Shelby County had a 10 percent increase of pended sales, while both Morgan and Hancock counties also experienced a 5.6 percent upturn over December 2014. Home sales in Boone, Hamilton and Madison were off by fewer than five homes per county during the same time period, while Hendricks County’s pended sales dipped 21.1 percent.
Available homes for sale in the nine-county region dropped by nearly 800, or 8.7 percent, in December 2015 compared to December 2014. Eight central Indiana counties experienced varying inventory declines, and Hancock County had the greatest decrease at 13.2 percent. Shelby County grew by 7.6 percent, or a gain of 15 homes compared to December 2014.
“2015 was marked by modest growth, but the nine-county central Indiana region has performed as well, and in some respects, better than the national trends in home sales,” said Jim Litten, president of F.C. Tucker Company. “We expect 2016 to emulate last year, as interest rates and affordability affect the industry. However, we’re optimistic that homeownership is still appealing to...