Central Indiana Residential Real Estate Market Experiences Significant Inventory Increases as Prices Continue Their Upward Climb - Market Watch June 2022

​“Inventory has increased yet again in June as more new listings enter the market,” said Jim Litten, CEO of F.C. Tucker Company. “Although home prices are still higher than this time last year, we should start to see some stabilizing trends in the coming months signaling a more even-keeled market with even more available inventory and homes spending more time on the market.”

​INDIANAPOLIS (July 7, 2022) – June 2022 was a promising month for central Indiana home buyers with all 16 central Indiana counties experiencing yet again, significant increases in available housing inventory. Monthly real estate statistics from F.C. Tucker Company revealed that central Indiana housing inventory increased 61.3 percent compared to this time last year, while pended home sales decreased 6.4 percent compared to June 2021, and year-to-date home sale prices increased 14.4 percent.

• The average June home sale price for the 16-county central Indiana region was $339,489 an increase of 17.8 percent compared to June 2021.
• Pended home sales decreased, down 6.4 percent compared to this time last year.
• Available housing inventory increased, up 61.3 percent compared to June 2021.

In June 2022, 4,109 central Indiana homes were purchased, down 6.4 percent from the 4,391 sold in June 2021. Specifically:

• Montgomery County showed the greatest increase in pended home sales with 25.5 percent growth compared to June 2021.
• Johnson County pended sales had the greatest decrease with 17.7 percent fewer homes sold in June 2022 compared to this time last year.

The year-to-date sale price of homes in central Indiana continued its upward climb:

• Decatur County recorded the highest average year-to-date home sale price increase at 31.1 percent.
• Boone County had the highest average year-to-date home sale price in the region at $476,403.
• Homes sold in 18 days on average, which is 18.2 percent faster than in 2021. Homes in Shelby County left the market 9 days, or 31.0 percent, faster than in 2021 - the greatest decrease of the 16-county central Indiana area.

Central Indiana experienced a 61.3 percent increase in overall available home inventory June 2022, with 1,393 more homes available for sale than in June 2021. All 16 counties saw an inventory increase in June 2022.

• Putnam County had the largest inventory increase – up 178.9 percent compared to June 2021.

 
“Inventory has increased yet again in June as more new listings enter the market,” said Jim Litten, CEO of F.C. Tucker Company. “Although home prices are still higher than this time last year, we should start to see some stabilizing trends in the coming months signaling a more even-keeled market with even more available inventory and homes spending more time on the market.”
 
Of the pended home sales in the region last month, five (5) were priced $2,000,000 or higher; 39 were priced $1,000,000 to $1,999,999; 427 were priced $500,000 to $999,999; 1,284 were priced $300,000 to $499,999; 1,250 were priced $200,000 to $299,999; 904 were priced $100,000 to $199,999; and 200 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 7, 2022. 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

Founded in 1918, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with more than $5 billion in annual sales, more than 40 offices, and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. F.C. Tucker’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. We have earned a reputation for our exceptional service, experienced sales associates and “Golden Rule” commitment to clients and employees. In 2021, F.C. Tucker formed a partnership with Pittsburgh-based Howard Hanna Real Estate Services, the nation’s largest independently owned real estate brokerage firm, furthering each company’s ability to provide best-in-class service and enhance the real estate experience for clients by providing best-in-class agents, products and services. For more information, visit talktotucker.com