Central Indiana home sales stabilize in October
Inventory remains balanced; seven counties experience drop in available homes for sale
INDIANAPOLIS – More than 2,100 homes pended in October, with three Central Indiana counties reporting increased sales compared to the same time period last year, according to statistics compiled by F.C. Tucker Company. Overall, October 2014 pended home sales rose 0.1 percent to 2,172 over October 2013, a modest increase of two homes sold in the nine counties that F.C. Tucker tracks. Year-to-date, 24,972 homes pended, a decline of 1,286 homes compared to the same time period in 2013.
In October, Morgan County saw the largest increase in pended home sales which spiked 32.4 percent, raising the number of pended home sales to 94 from 71 in October 2013. Hancock and Marion counties experienced increases of 11 percent and 6.8 percent, respectively, over October 2013. The largest decrease in pended sales occurred in Boone County, down 18.7 percent. Hamilton, Hendricks, Johnson, Madison and Shelby counties also experienced decreases.
Available homes for sale in the nine-county region dropped 0.4 percent in October 2014 with 11,366 homes on the market, 44 fewer than in October 2013. Seven Central Indiana counties experienced varying inventory declines with Hendricks and Johnson counties experiencing the greatest decrease in inventory at 10 percent and 8.7 percent. Boone, Hancock, Madison, Morgan and Shelby counties also saw declines. Available homes for sale increased in Hamilton and Marion counties at 6.5 and 1.6 percent.
Overall, sales prices for the nine-county Central Indiana area increased by 6.5 percent. Tucker’s data indicates that nine counties experienced higher home sales prices than in October 2013. Year-to-date, Shelby County led the way with a 21.2 percent increase, followed by Boone and Johnson counties with 11.4 and 7.6 percent increases...