Central Indiana home sales rise 6.9 percent in July

Central Indiana home sales rise 6.9 percent in July

F.C. Tucker reports continued growth in housing sales as prices maintain upward momentum

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicated that the housing market is still not slowing down. July 2017 pended sales climbed 6.9 percent compared to July 2016. Similarly, the average year-to-date home price for the 15-county Central Indiana region rose 5.5 percent to $196,683.

As the number of houses available for sale continued to decline, homebuyers purchased them rapidly; 2,945 homes were purchased in Central Indiana in July, an increase from 2,755 sold in July 2016. Many of the counties that F.C. Tucker tracks experienced an increase in sales. Specifically:

  • Hendricks County showed significant growth in homes sold, a 21 percent increase in July 2017 compared to July 2016. Morgan County followed closely behind with a 16.9 percent increase in sales.
  • Brown and Putnam counties’ pended sales, in contrast, decreased by 30 percent and 26.3 percent, respectively, compared to July 2016. 

In keeping with the previous month’s trends, homes sold more quickly and for more money in July, signaling that it’s still a strong seller’s market.

  • Thirteen of the 15 counties that F.C. Tucker tracks showed an uptick in average year-to-date home prices.  
  • Hamilton County again ranked highest with average home prices at $302,484. Boone County’s average home prices, slightly lower than Hamilton County’s, came in at $296,678.
  • Jennings County’s average home price dropped 3.1 percent and Shelby County’s dropped 0.5 percent, the only two counties in the region to dip in July.
  • Homes sold in 63 days on average January through July 2017, 11 days quicker than the same time period as last year. Hendricks and Johnson counties’ homes remained the fastest-selling in the market at 58 days, while Hancock and Marion counties came in a close second with homes selling in 60 days.

Listings dropped by 17.8 percent. In July 2017, inventory stood at 8,631 homes, a decrease of 1,869 compared to July 2016.

  • None of the 15 counties that F.C. Tucker tracks showed an uptick in active listings compared to July 2016.
  • Putnam County’s inventory dropped 30.7 percent, representing 71 fewer listings compared to July 2016. Not far behind, Marion and Shelby counties’ inventory dropped 23.8 and 23.5 percent respectively, representing 993 and 44 fewer listings.

“Indiana real estate continues to be an incredible value,” said Jim Litten, CEO of F.C. Tucker Company. “Regardless of your price point, a good selection of homes, including new construction, offers homebuyers many options.”

Of the pended home sales in the region last month, one was priced over $2,000,000; 13 were priced $1,000,000 to $1,999,999; 110 were priced $500,000 to $999,999; 346 were priced $300,000 to $499,999; 598 were priced $200,000 to $299,999; 1,305 were priced $100,000 to $199,999; and 572 were priced at $99,999 or less.

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