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Market Watch

Increased housing inventory available to central Indiana home buyers in October; home sale prices continue to rise

INDIANAPOLIS (Nov. 9, 2022) – Central Indiana saw growth in available housing inventory in October, as home prices continued to increase. F.C. Tucker Company, part of the Howard Hanna family of companies, found that central Indiana housing inventory increased 68.8 percent, compared to October 2021. Year-to-date home sale prices increased 12.9 percent, and pended home sales decreased by 27.4 percent.
  • The average October home sale price for the 16-county central Indiana region was $322,813 an increase of 11.5 percent compared to October 2021.
  • Pended home sales decreased, down 27.4 percent compared to this time last year.
  • Available housing inventory increased, up 68.8 percent compared to October 2021.
In October 2022, 2,918 central Indiana homes were purchased, down 27.4 percent from the 4,022 sold in October 2021. Specifically:
  • None of central Indiana’s 16 counties had an increase in pended home sales in October 2022.
  • Brown County has the smallest decrease in pended home sales with a 6.3 percent decrease compared to October 2021.
  • Putnam County pended sales had the greatest decrease with 41.2 percent fewer homes sold in October 2022 compared to this time last year.
Central Indiana year-to-date home sale prices continued to increase:
  • Decatur County recorded the highest average year-to-date home sale price increase at 21.5 percent.
  • Hamilton County had the highest average year-to-date home sale price in the region at $477,522.
  • Homes sold in 18 days on average, which is 5.3 percent faster than in 2021. Hamilton County homes left the market 22.2 percent, or four days, more quickly than in 2021 – selling the fastest in the 16-county central Indiana area.
Central Indiana experienced a 68.8 percent increase in overall available home inventory in October 2022, with 1,981 more homes available for sale than in October 2021.
  • Hamilton County had the largest inventory increase – up 177.6 percent compared to October 2021.
  • Decatur County experienced the largest decrease in inventory – down 17.2 percent compared to this time last year.
“These are the trends we expect to see this time of year in central Indiana’s residential real estate market,” said Jim Litten, president of F.C. Tucker Company. “Despite an increase in the average sale price, the growth in available inventory offers prospective buyers more options when purchasing a home.” Of the pended home sales in the region last month, three were priced $2,000,000 or higher; 28 were priced $1,000,000 to $1,999,999; 294 were priced $500,000 to $999,999; 826 were priced $300,000 to $499,999; 875 were priced $200,000 to $299,999; 704 were priced $100,000 to $199,999; and 188 were priced at $99,999 or less.

Pended Single-Family and Condominium Sales

Active Listings – Inventory

Average Sales Price

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Founded in 1918, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with more than $5 billion in annual sales, more than 40 offices, and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. F.C. Tucker’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. We have earned a reputation for our exceptional service, experienced sales associates and “Golden Rule” commitment to clients and employees. In 2021, F.C. Tucker formed a partnership with Pittsburgh-based Howard Hanna Real Estate Services, the nation’s largest independently owned real estate brokerage firm, furthering each company’s ability to provide best-in-class service and enhance the real estate experience for clients by providing best-in-class agents, products and services. For more information, visit talktotucker.com.