The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales up nearly 8 percent year to date

Market Update

Central Indiana home sales up nearly 8 percent year to date

Prices increase more than 5 percent; seven counties show rise in average sale price

 

INDIANAPOLIS – With 2,528 pended sales in March in Central Indiana, overall year-to-date home sales are up 7.7 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.

On a monthly basis, March 2015 pended home sales slipped 1.8 percent compared to March 2014, a decrease of 47 homes sold in the nine counties that F.C. Tucker tracks. Three of the nine counties reported increased sales compared to March 2014. 

In March, Madison County saw the largest increase in pended home sales which spiked 27.4 percent, raising the number of pended home sales to 144 from 113 in March 2014. Shelby and Johnson counties experienced increases of 9.1 and 5.9 percent, respectively, over March 2014. Boone County saw the biggest decline, decreasing 33.6 percent compared to March of last year. Hancock, Hendricks, Morgan, Madison, Marion and Hamilton counties also experienced decreases.

“As we move into the second quarter, we believe home sales will increase and prices will remain strong,” said Jim Litten, president of F.C. Tucker Company. “Though March sales were a little sluggish, we still expect to see activity gradually pick up due, in part, to recent job growth and the start of the spring selling season.”

Available homes for sale in the nine-county region decreased 0.9 percent in March 2015 with 9,868 homes on the market, 93 fewer than in March 2014. Eight Central Indiana counties experienced varying inventory declines with Madison and Johnson counties seeing the greatest decreases of 13.9 and 10.2 percent, respectively. Boone, Hamilton, Hancock, Hendricks, Morgan and Shelby counties also saw declines. Inventory in Marion County...