Market Watch
Central Indiana’s residential real estate market finished the year strong in December
INDIANAPOLIS (January 8, 2025) The residential real estate market in central Indiana finished 2024 on a strong note with most counties seeing an increase in sales and continued growth in available inventory. According to F.C. Tucker Company, part of the Howard Hanna family of companies:
- Available housing inventory increased 16.8 percent compared to December 2023.
- Homes spent only six days, or 20 percent, longer on the market than this time last year.
- Pended home sales decreased 1 percent across all 16 counties, compared to this time last year.
- Compared to December 2023, the average home sale price for the 16-county central Indiana region increased 12.3 percent to $363,190. Year-to-date 2024 home sale prices increased 4.2 percent to $348,225, compared to 2023.
In December 2024, 1,863 central Indiana homes were purchased, down 1 percent from the 1,882 sold in December 2023.
- Jennings County had the greatest increase in pended home sales in December 2024, up 60 percent compared to this time last year.
- Decatur County pended sales had the greatest decrease, with 43.8 percent fewer homes sold compared to December 2023.
Central Indiana year-to-date home sale prices increased 4.2 percent overall.
- Brown County recorded the highest average year-to-date home sale price decrease, down 4.4 percent.
- Hamilton County had the highest average year-to-date home sale price in the region at $525,313.
- Homes sold in 36 days on average, spending six days, or 20 percent, longer on the market than December 2023. Bartholomew County homes sold 29.6 percent faster than this time last year, the greatest increase in central Indiana.
- Central Indiana experienced a 16.8 percent increase in overall available home inventory in December 2024, compared to December 2023, with 672 more homes available for sale.
- Decatur County had the largest inventory increase – up 59.4 percent compared to December 2023.
- Boone County had the greatest decrease in inventory – down 16.5 percent compared to this time last year.
“Central Indiana’s residential real estate market finished the year strong with the most robust December we’ve seen in the past three years,” said Jim Litten, president of F.C. Tucker Company. “Pended sales were down slightly overall, but the majority of central Indiana counties actually saw sales increases. Solid sales, combined with inventory increases and homes selling at about the same pace as last year, positions the market for a strong start to 2025.”
Of the pended home sales in the region last month, five were priced $2,000,000 or higher; 20 were priced $1,000,000 to $1,999,999; 198 were priced $500,000 to $999,999; 648 were priced $300,000 to $499,999; 564 were priced $200,000 to $299,999; 363 were priced $100,000 to $199,999; and 65 were priced at $99,999 or less.
Editor’s Notes:
- All statistics were compiled by F.C. Tucker Company from a report drawn from BLC® statistics on October 8, 2024. Because of delayed processing through other agencies or boards, these numbers are subject to change.
- Effective April 7, 2019, data from MIBOR only reports on single family homes and excludes condo sales. F.C. Tucker will continue to include condo sales in this report.
- “Pending” means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.
- “Active Listings – Inventory” is a snapshot frozen in time at the end of the stated month. Per MIBOR, effective April 1, 2018, “Active with Contingency” no longer is a status in the BLC® listing service in order to present a true picture in advertising and marketing. Those listings that were in the “Active with Contingency” status have been moved from the “Active” status to the “Pending” status.
- For this report, F.C. Tucker tracks the following counties: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jackson, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam and Shelby. The first report tracking Jackson County data was pulled August 7, 2019.
PENDED SINGLE-FAMILY AND CONDOMINIUM SALES
ACTIVE LISTINGS – INVENTORY
AVERAGE SALE PRICE
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.