The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales up 13.1 percent year to date; up 1.2 percent for March

Central Indiana home sales up 13.1 percent year to date;
up 1.2 percent for March

Inventory tightens by 16.9 percent; nine counties show drop in available homes for sale

INDIANAPOLIS – With more than 2,516 pended sales in March in Central Indiana, overall year-to-date home sales are up 13.1 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.

On a monthly basis, March 2013 pended home sales rose 1.2 percent over March 2012, an increase of 30 homes sold in the nine counties that F.C. Tucker tracks. Five of the nine counties reported increased sales compared to March 2012. 

“The first quarter of the year is off to a strong start,” said Jim Litten, president of F.C. Tucker Company. “Continued increases in home sales and home prices, and decreases in inventory are positive signs that the Central Indiana real estate recovery is still on solid ground.”

In March, Johnson County saw the largest increase in pended home sales which spiked 23.4 percent, raising the number of pended home sales to 216 from 175 in March 2012. Hancock and Madison counties also experienced increases of 16 and 6.6 percent over March 2012, respectively. Boone County saw the biggest decline, decreasing 31 percent from March of last year. Shelby and Hendricks counties also experienced decreases of 9.3 and 6.5 percent respectively.

Available homes for sale in the nine-county region dropped 16.9 percent in March 2013 with 10,790 homes on the market, 2,202 fewer than in March 2012. All nine Central Indiana counties experienced varying inventory declines with Hamilton County experiencing the greatest decrease in inventory at 22.7 percent. Morgan County’s inventory was the most stable, down 6 percent.

Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 5.2 percent. Tucker’s...