Central Indiana home sales remain steady in June

F.C. Tucker reports 0.1 percent decrease in housing sales as prices continue to rise
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that housing market activity is declining slightly. June 2018 pended sales decreased just 0.1 percent compared to June 2017 while the average year-to-date sale price for the 15-county Central Indiana region increased 8.5 percent to $213,339.
 
The number of homes for sale continues to decrease, and last month fewer buyers purchased homes as well. 3,802 Central Indiana homes were purchased in June 2018, a small decrease from 3,807 sold in June 2017. Specifically:

• Montgomery County showed the most growth in homes sold with a 54.5 percent increase in June 2018 compared to June 2017.
• Brown County pended sales, in contrast, decreased by a significant 40 percent compared to June 2017.

 
Despite fewer pended sales, on average homes sold much faster and for more money in June, meaning it’s still a strong seller’s market.

• Of the 15 counties F.C. Tucker tracks, only Decatur County showed a decrease in average year-to-date home prices at 1.5 percent. 
• Hamilton County continues to have the highest average home prices at $325,467. Hancock County experienced the highest price increase compared to year-to-date 2017 at 10.4 percent.
• Homes sold in 48 days on average, 17 days and 26.2 percent faster than January to June last year. Marion County’s homes continue to be the fastest-selling in the market at 42 days.

 
Listings continue to fall but at a slightly lower rate, decreasing 9.5 percent this month. In June 2018, inventory stood at 5,991 homes, a decrease of 629 compared to June 2017.

• Madison County’s inventory dropped the most at 26.6 percent compared to June 2017.
• Decatur County and Johnson County both experienced an increase in inventory, with 5.7 percent and 2.5 percent more listings than June 2017, respectively.

 
“We’re continuing to see the effects of nationwide low inventory here in central Indiana,” said Jim Litten, CEO of F.C. Tucker Company. “Low inventory affects affordability, however we’re optimistic the market will continue to offer homes of all price ranges to buyers while also providing competitive sale prices for sellers.”

Of the pended home sales in the region last month, two were priced $2,000,000 or higher; 18 were priced $1,000,000 to $1,999,999; 153 were priced $500,000 to $999,999; 520 were priced $300,000 to $499,999; 868 were priced $200,000 to $299,999; 1,663 were priced $100,000 to $199,999; and 578 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 July 16, 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.