The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales increase 5 percent in March

Central Indiana home sales increase 5 percent in March

F.C. Tucker reports indicate positive growth in housing sales for 2017

INDIANAPOLIS – F.C. Tucker Company’s monthly real estate market stats indicated the housing market is still going strong. March 2017 pended sales were up 5 percent compared to March 2016. Similarly, the average year-to-date home price for the 15-county Central Indiana region rose 7 percent to $185,819.

Homebuyers remained steadfast as the number of houses for sale continued to decline, purchasing 3,177 homes in Central Indiana, an increase from 3,027 sold in March 2016. The majority of the counties that F.C. Tucker tracks experienced an increase in sales. Specifically:

  • Boone and Hendricks counties showed moderate growth in homes sold. Boone County’s sales increased by 15.1 percent in March 2017 compared to March 2016, and Hendricks County’s sales increased 12.8 percent.
  • Brown and Shelby counties’ pended sales, in contrast, decreased by 23.1 percent and 19.3 percent, respectively, compared to March 2016.

In keeping with the previous month’s trends, homes sold more quickly and for more money in March, signaling a strong seller’s market.

  • The average year-to-date price in the 15-county region increased 7 percent, now at $185,819.
  • Hamilton County took back the rank of highest average home price at $291,881. Boone County came in second at an average price of $282,434. 
  • Two counties showed dips in average home prices for a second month in a row. Brown County’s average home price dropped 8.1 percent, while Shelby County’s average home price declined 7.1 percent.
  • Homes sold in 77 days on average in the first quarter of 2017, 11 days quicker than this time last year. Jennings...