The FC Tucker Indianapolis Real Estate Blog

Central Indiana home sales up 14 percent year to date; up 9.7 percent for July

Central Indiana home sales up 14 percent year to date; up 9.7 percent for July

 Inventory tightens by 12.7 percent; eight counties show drop in available homes for sale

INDIANAPOLIS – With 2,219 pended sales in July in Central Indiana, overall year-to-date home sales are up more than 14 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.

On a monthly basis, July 2012 pended home sales rose 9.7 percent over July 2011, an increase of 196 homes sold in the nine counties that F.C. Tucker tracks. Seven of the nine counties reported increased sales compared to July 2011. 

“As we move further into the third quarter, we are encouraged by the direction of the market,” said Jim Litten, president of F.C. Tucker Company. “Home sales and home prices continue to grow – necessary factors for market stabilization.”

In July, Madison County saw the largest increase in pended home sales which spiked 48.4 percent, raising the number of pended home sales to 141 from 95 in July 2011. Morgan and Marion counties also experienced increases of 19.7 and 12.4 percent, respectively, over July 2011. Hancock County saw the biggest decline, decreasing 20.5 percent from July of last year. Hendricks County also experienced a decrease of 5.6 percent. 

Available homes for sale in the nine-county region dropped 12.7 percent in July 2012 with 13,655 homes on the market, 1,995 fewer than in July 2011. Eight Central Indiana counties experienced varying inventory declines with Johnson County experiencing the greatest decrease in inventory at 19.9 percent. Madison County saw a modest increase, up 0.5 percent.