The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales rise 6.2 percent in May

Central Indiana home sales rise 6.2 percent in May

F.C. Tucker reports continued growth in housing sales as prices increase another month

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicated that the housing market is not slowing down. May 2017 pended sales climbed 6.2 percent compared to May 2016. Similarly, the average year-to-date home price for the 15-county Central Indiana region rose 6.6 percent to $192,206.

Homebuyers continue to purchase homes at a rapid rate as the number of houses for sale continued to decline, purchasing 3,398 homes in Central Indiana, an increase from 3,199 sold in May 2016. Many of the counties that F.C. Tucker tracks experienced an increase in sales. Specifically:

  • Shelby County showed significant growth in homes sold, a 29.5 percent increase in May 2017 compared to May 2016. Decatur County followed close behind with a 20 percent increase in sales.
  • Montgomery and Boone counties’ pended sales, in contrast, decreased by 38.1 percent and 23.1 percent, respectively, compared to May 2016.

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

  • Fourteen of the 15 counties that F.C. Tucker tracks showed an uptick in average year-to-date home prices.  
  • Hamilton County again ranked highest with average home prices at $297,681. Boone County’s average home prices, slightly lower than Hamilton County’s, came in at $285,244. 
  • Jennings County’s average home price dropped 5.9 percent, the only county in the region to dip in May.
  • Homes sold in 69 days on average January through May 2017, 11 days quicker than the same time period as last year. Johnson and Hendricks counties’...