Active February Signals Persistent Growth for Central Indiana Residential Real Estate Market as Homes Sales and Prices Continue to Climb - Market Watch Feb. 2022

​February 2022 has proven to be an even stronger month for residential real estate than this time last year, with increases in home prices and sales. Monthly real estate statistics from F.C. Tucker Company revealed 

​February 2022 has proven to be an even stronger month for residential real estate than this time last year, with increases in home prices and sales. Monthly real estate statistics from F.C. Tucker Company revealed that February 2022 pended home sales increased 6.9 percent compared to February 2021, while year-to-date home sale prices increased 13.3 percent. Central Indiana housing inventory decreased 8.1 percent compared to this time last year.

• The average February home sale price for the 16-county central Indiana region was $287,752 an increase of 12.7 percent compared to February 2021.
• Pended home sales increased, up 6.9 percent compared to this time last year.
• Available housing inventory decreased, down 8.1 percent compared to February 2021.

In February 2022, 2,900 central Indiana homes were purchased, up 6.9 percent from the 2,714 sold in February 2021. Specifically:

• Jennings County showed the greatest increase in pended home sales with 118.2 percent growth compared to February 2021.
• Madison County pended sales had the greatest decrease with 12.2 percent fewer homes sold in February 2022 compared to this time last year.

The year-to-date sale price of homes in central Indiana continued their upward climb:

• Decatur County recorded the highest average year-to-date home sale price increase at 44.8 percent.
• Hamilton County had the highest average home sale price in the region at $428,292.
• Homes sold in 23 days on average, 23.3 percent faster than in 2021. Bartholomew County homes left the market 20 days, or 51.3 percent, faster than in February 2021 - the greatest decrease of the 16-county central Indiana area.

Central Indiana experienced an 8.1 percent decrease in overall available home inventory in February 2022, with 146 fewer homes available for sale than in February 2021. Four counties saw inventory decreases in February 2022, while 12 counties saw increases.

• Morgan County had the largest inventory increase – up 124.5 percent compared to February 2021.
• Hamilton County inventory continued to experience the greatest decrease in central Indiana – down 51.4 percent – compared to this time last year.
  
  

“The market is continuing to heat up,” said Jim Litten, CEO of F.C. Tucker Company. “Although we saw a slight decrease in inventory this past month, I do believe the overall central Indiana residential real estate market suggests that we will continue to see the trend of strong buyer demand as we move through 2022 and inventory becomes more readily available.”
 
Of the pended home sales in the region last month, three (3) were priced $2,000,000 or higher; 30 were priced $1,000,000 to $1,999,999; 240 were priced $500,000 to $999,999; 837 were priced $300,000 to $499,999; 870 were priced $200,000 to $299,999; 725 were priced $100,000 to $199,999; and 195 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 March 8, 2022. 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.