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Central Indiana home sales grow a remarkable 10.5 percent in November

F.C. Tucker reports continued growth in housing sales as prices maintain upward momentum

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the housing market in Central Indiana continues to climb. November 2017 pended sales increased an impressive 10.5 percent compared to November 2016 while the average year-to-date home price for the 15-county Central Indiana region rose 5.9 percent to $199,302.

Homebuyers quickly purchased available homes as the number of houses for sale continued to decline; 2,308 homes were purchased in Central Indiana in November, an increase from 2,088 sold in November 2016. Many of the counties that F.C. Tucker tracks experienced an increase in sales. Specifically:

  • Brown County showed extraordinary growth in homes sold with a 100 percent increase in November 2017 compared to November 2016. Montgomery County followed with a 33.3 percent increase in sales.
  • Putnam County pended sales, in contrast, decreased by 23.3 percent compared to November 2016.

Just as they have all year, homes sold more quickly and for more money in November, signaling that it’s still a strong seller’s market.

  • All 15 counties that F.C. Tucker tracks showed an increase in average year-to-date home prices.
  • Hamilton County ranked highest in average home prices for the ninth consecutive month at $301,437. Boone County’s average home prices remain close behind at $298,587.
  • Homes sold 60 days on average between January and November 2017, 11 days faster than in the same period last year. Johnson County’s homes continue to be the fastest-selling in the market at 54 days.

Listings dropped a noteworthy 21 percent. In November 2017, inventory stood at 7,259 homes, a decrease of 1,935 compared to November 2016 and the lowest all year.

  • No county showed an uptick in active listings this month. Putnam County’s inventory dropped the most at 36.2 percent, representing 76 fewer listings compared to November 2016. Close behind, inventory in Jennings and Madison counties dropped 31.9 percent, representing 22 and 174 fewer listings, respectively.

“Another substantial sales increase puts the Central Indiana housing market in a good position as we approach the end of 2017,” said Jim Litten, CEO of F.C. Tucker Company. “Despite a competitive sales environment, buyers are finding homes at reasonable price points.”

Of the pended home sales in the region last month, one was priced $2,000,000 or higher; five were priced $1,000,000 to $1,999,999; 75 were priced $500,000 to $999,999; 268 were priced $300,000 to $499,999; 408 were priced $200,000 to $299,999; 1,035 were priced $100,000 to $199,999; and 516 were priced at $99,999 or less.

 

PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

ACTIVE LISTINGS – INVENTORY  

AVERAGE SALE PRICE

 

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With approximately $3.7 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with more than 40 offices and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. Less than one percent of all real estate firms have the longevity of F.C. Tucker. Founded in 1918, the company’s family of businesses includes a full range of real estate services—mortgages, title insurance, relocation services, a full line of insurance products, auctioning and homeowner warranty products. F.C. Tucker has earned a reputation for its exceptional service, experienced sales associates and “Golden Rule” commitment to its clients and employees.