Central Indiana pended home sales up more than 14 percent in September 2019 - Market Watch

"The seller’s market was alive and well in central Indiana in September,” said Jim Litten, CEO of F.C. Tucker Company. “Homes continue to leave the market quickly due to increased buyer demand, and we anticipate the strong market to continue through the end of the year.”

Central Indiana pended home sales up more than 14 percent in September
F.C. Tucker reports increased home prices and sales

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that home sales prices continue to increase, more homes are being sold and home inventory continues to decrease. September 2019 average home sale price increased to $222,752 compared to September 2018. Year-to-date, average sales price increased to $225,321 for the 16-county central Indiana region. Pended sales increased 14.1 percent, and home inventory decreased by 4 percent.
 
Pended sales and home prices continued to increase last month. In September 2019, 3,500 central Indiana homes were purchased, up from 3,068 sold in September 2018. Specifically:

• Montgomery County showed the most growth in homes sold with a 50 percent increase in September 2019 compared to September 2018.
• Brown County pended sales, however, decreased with 39.4 percent fewer homes sold last month compared to September 2018.

The seller’s market is still going strong as demonstrated by the increase in September home sale prices. Homes also left 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 19.6 percent compared to this time last year.
• Boone County also continues its trend of having the highest average home price in the region at $341,143.
• Homes sold in 38 days on average, 9.5 percent faster than year-to-date 2018. Once again, Hendricks and Marion county homes left the market the fastest at just 32 and 33 days on average, respectively.

Inventory decreased 4 percent last month, with 6,646 homes listed in September 2019. That represents 280 fewer homes available for sale than in September 2018.

• Jackson County once again experienced the highest increase in inventory with 133.3 percent more listings than September 2018.
• Montgomery County inventories dropped the most at 22.4 percent compared to September 2018.

 
"The seller’s market was alive and well in central Indiana in September,” said Jim Litten, CEO of F.C. Tucker Company. “Homes continue to leave the market quickly due to increased buyer demand, and we anticipate the strong market to continue through the end of the year.”
 
Of the pended home sales in the region last month, 32 were priced $2,000,000 or higher; 7 were priced $1,000,000 to $1,999,999; 147 were priced $500,000 to $999,999; 511 were priced $300,000 to $499,999; 899 were priced $200,000 to $299,999; 1,437 were priced $100,000 to $199,999; and 467 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 9, 2019. 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.