Central Indiana home sales up 9 percent year to date
Inventory tightens by 4.3 percent; Sale prices increase nearly 6 percent year-to-date
INDIANAPOLIS – With 2,910 pended sales in May in Central Indiana, overall year-to-date home sales are up 9 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.
On a monthly basis, May 2015 pended home sales slipped 3.9 percent compared to May 2014, a decline of 117 homes sold in the nine counties that F.C. Tucker tracks. Five of the nine counties reported decreased sales compared to May 2014.
In May, Hendricks County saw the largest increase in pended home sales which spiked 9.3 percent, raising the number of pended home sales to 271 from 248 in May 2014. Madison and Marion counties experienced increases of 8.6 and 0.8 percent over May 2014 respectively, while sales in Hancock County remained unchanged. Hamilton County saw the biggest decline, decreasing 15 percent compared to May of last year. Johnson and Morgan counties also experienced decreases – 13.5 and 11.3 percent. Boone and Shelby counties saw smaller decreases in pended sales.
“With only 3.8 months of inventory available in Central Indiana, we’re definitely experiencing a seller’s market,” said Jim Litten, president of F.C. Tucker Company. “Sellers are benefitting from rising prices as inventory continues to tighten.”
Available homes for sale in the nine-county region decreased 4.3 percent in May 2015 with 10,928 homes on the market, 486 fewer than in May 2014. Eight Central Indiana counties experienced varying inventory declines with Madison and Hancock counties tightening 21.2 and 11.4 percent, respectively. Shelby, Morgan, Johnson, Boone, Hendricks and Hamilton also saw declines. Inventory in Marion County increased by 0.3 percent.