Central Indiana residential real estate market continued at a brisk pace in April - Market Watch April 2021

    Low inventory continues driving home sales and prices

INDIANAPOLIS – The April residential real estate market continued at a brisk pace, despite decreases in available housing inventory. Monthly real estate statistics from F.C. Tucker Company revealed that pended home sales increased 29.9 percent compared to this time last year, year-to-date home prices increased 12.4 percent, and available housing inventory decreased 58.7 percent.

• The average April 2021 home sale price for the 16-county central Indiana region was $280,434, an increase of 16 percent.
• Available housing inventory dropped 58.7 percent compared to April 2020.
• Pended home sales increased 29.9 percent compared to this time last year.

In April 2021, 4,039 central Indiana homes were purchased, up 29.9 percent from the 3,110 sold in April 2020. Specifically:

• Bartholomew County showed the greatest increase in pended home sales with 92.9 percent growth compared to April 2020.
• Putnam County pended sales had the greatest decrease with 16 percent fewer homes sold in April 2021 compared to this time last year.

Home sale prices continued their upward climb in April:

• Shelby County recorded the highest average year-to-date home sale price increase at 29.4 percent.
• Boone County had the highest average home sale price in the region at $416,519.
• Homes sold in 26 days on average, 43.5 percent faster than in 2020. Jackson County homes left the market 43 days faster than in April 2020 - the greatest decrease of the 16-county central Indiana area.

Central Indiana experienced a 58.7 percent decrease in home inventory in April 2021. That represents 2,570 fewer homes available for sale than in April 2020. Every county saw home inventory decreases of 42.5 percent or higher, and 13 of the 16 counties saw inventory decreases of 52.1 percent or higher.

• Decatur County had the lowest inventory decrease – 42.5 percent – compared to April 2020.
• Hamilton County inventory decreased the most significantly in central Indiana – 77.1 percent – compared to this time last year.

 
“Sellers were in the driver’s seat in the month of April, as competition in the market continues to heat up in response to low inventory,” said Jim Litten, CEO of F.C. Tucker Company. “My message to homeowners considering selling would be ‘there’s never going to be a better time than now if you have the flexibility to sell.’”
 
Of the pended home sales in the region last month, 11 were priced $2,000,000 or higher; 38 were priced $1,000,000 to $1,999,999; 326 were priced $500,000 to $999,999; 903 were priced $300,000 to $499,999;   1,182 were priced $200,000 to $299,999; 1,237 were priced $100,000 to $199,999; and 342 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 5, 2021. 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 more than $5 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

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