The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales up more than 8 percent in February

Central Indiana home sales up more than 8 percent in February

Inventory tightens by 15.3 percent; nine counties experience drop in available homes for sale

INDIANAPOLIS – More than 2,000 homes pended in February, with all but one Central Indiana county reporting increased sales compared to the same time period last year, according to statistics compiled by F.C. Tucker Company. Overall, February 2013 pended home sales rose 8.1 percent over February 2012, an increase of 152 homes sold in the nine counties that F.C. Tucker tracks. 

In February, Shelby County saw the largest increase in pended home sales which spiked 92.3 percent, raising the number of pended home sales to 50 from 26 in February 2012. Morgan and Madison counties also experienced increases of 41.7 and 28.6 percent over February 2012, respectively. Only Boone County saw a decline, down a modest 1.4 percent.

Available homes for sale in the nine-county region dropped 15.3 percent in February 2013 with 10,489 homes on the market, 1,902 fewer than in February 2012. All nine Central Indiana counties experienced varying inventory declines with Hamilton County experiencing the greatest decrease in inventory at 21.3 percent.   

“Real estate sales are off to a good start this year, and as the national economy has improved, we are seeing a spark in the local housing market as well,” said Jim Litten, president of F.C. Tucker Company. “With the national unemployment rate at its lowest level in four years and the stock market experiencing a rebound, we anticipate that confidence will grow here in Central Indiana and continue to fuel housing sales.”

Overall, sales prices for the nine-county Central Indiana area increased by 7.7 percent. Tucker’s data indicates...