The FC Tucker Indianapolis Real Estate Blog

Home sales close the year up 14 percent year-to-date

Home sales close the year up 14 percent year-to-date

Inventory tightens by 7.6 percent; eight counties show drop in available homes for sale

INDIANAPOLIS – With 1,315 pended sales in December in Central Indiana, overall year-to-date home sales are up 14 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.

On a monthly basis, December 2013 pended home sales declined 18.6 percent over December 2012, a decrease of 301 homes sold in the nine counties that F.C. Tucker tracks. Three of the nine counties reported increased sales compared to December 2012. 

“We’re optimistic about the start of the new year,” said Jim Litten, president of F.C. Tucker Company. “Prices are up, inventory is tightening, and homes are selling faster, staying on the market an average of 81 days – all signs of a strengthening market.”

In December, Morgan County saw the largest increase in pended home sales which spiked 45.5 percent, increasing the number of pended home sales to 48 from 33 in December 2012. Hancock and Madison counties also experienced increases of 5.9 and 1.2 percent, respectively, over December 2012. Shelby County saw the biggest decline in pended sales, decreasing 35.5 percent from December of last year. Johnson and Hendricks were also among the counties that experienced decreases – down 34.3 and 30.3 respectively.

Available homes for sale in the nine-county region dropped 7.6 percent in December 2013 with 9,594 homes on the market, 794 fewer than in December 2012. Eight Central Indiana counties experienced varying inventory declines with Shelby County experiencing the greatest decrease in inventory at 16.7 percent. In Johnson County, inventory rose 8.5 percent to 820 from 756 in December 2012.

Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 6.8...