Central Indiana home sales increase 8.1 percent in August

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 continues to grow despite decreasing inventory. August 2018 pended sales increased 8.1 percent compared to August 2017 while the average year-to-date sale price for the 15-county Central Indiana region increased 7.7 percent to $214,855.
 
With a low inventory, homebuyers rapidly purchase available homes. In August 2018, 3,701 Central Indiana homes were purchased, up from 3,425 sold in August 2017. Specifically:

• Decatur County showed the most growth in homes sold with a 47.6 percent increase in August 2018 compared to August 2017.
• While multiple counties decreased in pended sales, Hancock County decreased the most at 24.6 percent, or 35 fewer homes, compared to August 2017.

 
On average, homes continue to sell more quickly and for more money in August making it a good time for sellers in the 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 $323,736. Shelby County experienced the highest price increase compared to year-to-date 2017 at 14.0 percent.
• Homes sold in 43 days on average, 18 days and 29.5 percent faster than January to August last year. Marion County’s homes continue to be the fastest-selling in the market for the sixth month in a row at 36 days.

 
While there continues to be low inventory in the area, there was only 5.8 percent fewer homes listed than this time last year, a smaller decrease compared to last month’s 10.1 percent. In August 2018, inventory stood at 6,665 homes, a decrease of 414 compared to August 2017.

• Bartholomew County’s inventory dropped the most at 30.9 percent compared to August 2017.
• Decatur County experienced the highest increase in inventory, with 5.0 percent more listings than August 2017.

 
“Home inventory in Indiana remains tight, and will for the foreseeable future,” said Jim Litten, CEO of F.C. Tucker Company. “However, a good selection of homes at varying price points exists, so homebuyers should not be deterred as they begin their housing search.”
 
Of the pended home sales in the region last month, two were priced $2,000,000 or higher; 11 were priced $1,000,000 to $1,999,999; 122 were priced $500,000 to $999,999; 511 were priced $300,000 to $499,999; 859 were priced $200,000 to $299,999; 1,580 were priced $100,000 to $199,999; and 616 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 September 17, 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.

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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.

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