The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales up 16.6 percent year to date; up 13.2 percent for April

Central Indiana home sales up 16.6 percent year to date;
up 13.2 percent for April

Inventory tightens by 18.2 percent; nine counties show drop in available homes for sale

INDIANAPOLIS – With 2,788 pended sales in April in Central Indiana, overall year-to-date home sales are up 16.6 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.

On a monthly basis, April 2013 pended home sales rose 13.2 percent over April 2012, an increase of 325 homes sold in the nine counties that F.C. Tucker tracks. All nine counties reported increased sales compared to April 2012. 

“The pace of home sales surged in the first quarter,” said Jim Litten, president of F.C. Tucker Company. “Our sales associates are seeing a notable shift in buying habits as the number of desirable homes on the market tightens and prices begin to climb.”

In April, Shelby County saw the largest increase in pended home sales which spiked 61.5 percent, raising the number of pended home sales to 63 from 39 in April 2012. Johnson and Marion counties also experienced increases of 42.1 and 14.7 percent over April 2012, respectively.

Available homes for sale in the nine-county region dropped 18.2 percent in April 2013 with 11,084 homes on the market, 2,458 fewer than in April 2012. All nine Central Indiana counties experienced varying inventory declines with Shelby County experiencing the greatest decrease in inventory at 25.2 percent. Morgan County’s inventory was the most stable, down just 3.6 percent.

Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 5.6 percent. Tucker’s data indicates that six counties experienced slightly higher home sales prices than in April 2012. Year-to-date, Marion County led the way with a 10.9 percent increase in home sales prices, while Madison, Hancock,...