Central Indiana home sales increase 14.1 percent in July

F.C. Tucker reports growth in housing sales as prices maintain upward momentum
 
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that Central Indiana housing market activity is growing as summer comes to an end. July 2018 pended sales increased 14.1 percent compared to July 2017 while the average year-to-date sale price for the 15-county Central Indiana region increased 9.2 percent to $214,789.
 
Homebuyers quickly purchased available homes as the number of houses for sale continues to decline. 3,730 Central Indiana homes were purchased in July 2018, up from 3,268 sold in July 2017. Specifically:

• Putnam County showed the most growth in homes sold with a 58.1 percent increase in July 2018 compared to July 2017, passing Montgomery County by just 1.3 percent.
• While no counties decreased in pended sales, Boone County increased the least at just 3.7 percent, or four homes, compared to July 2017.

 
In keeping with the previous month’s trends, homes sold more quickly and for more money in July, signaling that it’s still a seller’s market.

• Of the 15 counties F.C. Tucker tracks, all showed an increase in average year-to-date home prices.
• Hamilton County continues to have the highest average home prices at $325,334. Shelby County experienced the highest price increase compared to year-to-date 2017 at 14.8 percent.
• Homes sold in 45 days on average, 18 days and 28.6 percent faster than January to July last year. Marion County’s homes continue to be the fastest-selling in the market for the fifth month in a row at 38 days.

 
Listings continue to fall as new home construction dwindles, with 10.1 percent fewer homes this month. In July 2018, inventory stood at 6,303 homes, a decrease of 707 compared to July 2017.

• Jennings County’s inventory dropped the most at 36.5 percent compared to July 2017.
• Montgomery County was the only country in the area to experience an increase in inventory, with 9.5 percent more listings than July 2017.

 
"Consumer confidence in the market positioned Central Indiana homes sales to finish strong this summer," said Jim Litten, CEO of F.C. Tucker Company. "Traditionally once everyone's back in school and attentions are divided, the market can take a bit of a hit before rebounding late September."
 
Of the pended home sales in the region last month, three were priced $2,000,000 or higher; 20 were priced $1,000,000 to $1,999,999; 152 were priced $500,000 to $999,999; 545 were priced $300,000 to $499,999; 848 were priced $200,000 to $299,999; 1,598 were priced $100,000 to $199,999; and 564 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 August 15, 2018. Because of delayed processing through other agencies or boards, these numbers are subject to change.
• “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.
• “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.
• For this report, F.C. Tucker tracks the following counties: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam and Shelby.

 
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.