The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales grew steadily in September

Central Indiana home sales grew steadily in September

Pended sales and home prices are up; inventory remains tight

INDIANAPOLIS – Central Indiana’s residential real estate market showed steady growth in September, according to statistics compiled by F.C. Tucker Company. Compared to September 2015, overall pended sales rose 6.1 percent despite homebuyers having 2,118 fewer homes on the market from which to choose. The average sales price increased 2.5 percent to $188,145. Statistics for the 15-county region indicate 2016 pended home sales should finish stronger than last year.

The residential housing narrative indicates a range of spikes and dips in home sales, but the majority showed an overall improvement. Specifically:

  • Marion and Hamilton counties showed significant growth in the number of homes sold. Marion County had 121 more sales in September 2016 than September 2015, representing a 12.4 percent increase. Hamilton County had 69 more pended sales, a 17.2 percent increase. Others with increased sales included Boone, Hancock, Jennings, Madison, Montgomery and Shelby counties.
  • Johnson and Morgan counties’ pended sales, on the other hand, decreased more than 20 percent compared to September 2015.

Meanwhile, home prices inched up slightly and homes sold more quickly:

  • The average year-to-date price in the 15-county region ticked up 2.5 percent, now at $188,145.
  • Boone County’s average price still remains the highest of all counties that F.C. Tucker tracks. It rose more than $20,000, or 7.5 percent, to $291,625 in September.
  • Shelby County’s average sales price dropped more than $56,600, or 30.6 percent, compared to this time last year.
  • Homes sold in six fewer days on average. Johnson County homes sold in 64 days, or 11 fewer days compared to 2015....