Central Indiana home sales rise 4.3 percent in April

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 the housing market is on the rise once again. April 2018 pended sales increased 4.3 percent compared to April 2017 while the average year-to-date sales price for the 15-county Central Indiana region increased 8.1 percent to $203,839.
 
Pended sales increased slightly as the number of houses for sale continues to decline.  Pended sales went from 3,729 Central Indiana homes purchased in April 2017 to 3,890 in April 2018. Specifically:

• Putnam County showed the most growth in homes sold for the third time this year with a 56.4 percent increase in April 2018 compared to April 2017.

• Madison County pended sales, in contrast, decreased by 12.3 percent compared to April 2017.

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

• Of the 15 counties F.C. Tucker tracks, only Decatur and Jennings Counties showed a decrease in average year-to-date home prices at 8.4 and 1.0 percent, respectively.  
• Hamilton County continues to have the highest average home prices at $316,968. Shelby County experienced the highest price increase compared to year-to-date 2017 at 17.6 percent.

• Homes sold 60 days on average, 14 days and 18.9 percent faster than January to April last year. Marion County’s homes were the fastest-selling in the market at 52 days with Johnson County close behind at 54 days.

 
Listings dropped 21.5 percent this month. In April 2018, inventory stood at 4,654 homes, a decrease of 1,277 compared to April 2017.

• Brown County’s inventory dropped the most at 39.7 percent, representing 58 fewer listings compared to April 2017.
• While no county experienced an increase in inventory, Hamilton County lost the fewest listings with a 7.7 percent decrease.

 
“Homes continue to leave the market faster, meaning buyers who find their dream homes need to act fast,” said Jim Litten, CEO of F.C. Tucker Company. “Sale prices are rising as a result of increased competition, but buyers can still find homes in their price range throughout the region.”

Of the pended home sales in the region last month, none were priced $2,000,000 or higher; 17 were priced $1,000,000 to $1,999,999; 192 were priced $500,000 to $999,999; 627 were priced $300,000 to $499,999; 895 were priced $200,000 to $299,999; 1,589 were priced $100,000 to $199,999; and 570 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 May 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.