The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales up 19 percent year to date; up 13.5 percent for May

Central Indiana home sales up 19 percent year to date;
up 13.5 percent for May

Inventory tightens by 17.5 percent; nine counties show drop in available homes for sale

INDIANAPOLIS – With 2,857 pended sales in May in Central Indiana, overall year-to-date home sales are up 19 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.

On a monthly basis, May 2013 pended home sales rose 13.5 percent over May 2012, an increase of 339 homes sold in the nine counties that F.C. Tucker tracks. All nine counties reported increased sales or sales on par with May 2012. 

“A robust housing market recovery is underway in Central Indiana as inventory declines and housing prices rise,” said Jim Litten, president of F.C. Tucker Company. “The balance is tilting toward a seller’s market, but there are still great opportunities for buyers to find an array of houses at various price points.”  Homes on average are selling 13 days quicker year to date than in 2012.

In May, Morgan County saw the largest increase in pended home sales which spiked 33.3 percent, raising the number of pended home sales to 104 from 78 in May 2012. Boone and Hancock counties also experienced increases of 31.9 and 27.3 percent over May 2012, respectively.

Available homes for sale in the nine-county region dropped 17.5 percent in May 2013 with 11,366 homes on the market, 2,386 fewer than in May 2012. All nine Central Indiana counties experienced varying inventory declines. Hamilton County’s inventory decreased the most at 26.4 percent, while Morgan County’s inventory was the most stable, down just 2.7 percent.

Overall, year-to-date sales prices for the Central Indiana area increased by 5.7 percent. Tucker’s data indicates that all nine counties experienced slightly higher home sales prices than in May 2012....