Central Indiana home sales up 4.4 percent as prices increased and inventory decreased - Market Watch December 2019

1/17/2020

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the year 2019 ended with a continued upward trend for both home sales and home prices in Central Indiana, while homes are also left the market more quickly. The December 2019 average home sale price increased to $217,302 compared to this time last year. Year-to-date, average sales price increased to $225,616 for the 16-county central Indiana region. Pended home sales increased 4.4 percent, and home inventory decreased by 8.7 percent.

Pended sales continued to increase last month. In December 2019, 2,152 central Indiana homes were purchased, up from 2,061 sold in December 2018. Specifically:

Madison County showed the most growth in homes sold with a 54.1 percent increase in December 2019 compared to December 2018.
Decatur County pended sales, however, decreased with almost 41 percent fewer homes sold last month compared to December 2018.

Sellers once again benefited from the increase in December home sale prices and from homes leaving the market more quickly compared to this time last year.

All 16 counties F.C. Tucker tracks increased in average year-to-date home prices. Jennings County once again experienced the highest price increase at 16 percent compared to this time last year.
Boone County had the highest average home price in the region at $340,212.
Homes sold in 38 days on average, 7.3 percent faster than year-to-date 2019. Homes in Hendricks, Johnson and Marion counties all saw homes leaving the market at 33 days on average, the fastest of the 16-county central Indiana area.

Inventory decreased 8.7 percent last month, with 5,252 homes listed in December 2019. That represents 498 fewer homes available for sale than in December 2018.

Jackson County once again experienced the highest increase in inventory with 44.2 percent more listings than December 2018.
Bartholomew County inventories dropped the most at 24.5 percent compared to December 2018.

"Even with the December holidays, we are ending 2019 with a robust central Indiana housing market,” said Jim Litten, CEO of F.C. Tucker Company. “Low housing inventory continues to favor sellers, with prices increasing and homes selling more quickly compared to this time last year.”

Of the pended home sales in the region last month, 1 was priced $2,000,000 or higher; 8 were priced $1,000,000 to $1,999,999; 92 were priced $500,000 to $999,999; 342 were priced $300,000 to $499,999; 520 were priced $200,000 to $299,999; 854 were priced $100,000 to $199,999; and 335 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 January 7, 2020. 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

With approximately $4 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. For more information, visit talktotucker.com.