Central Indiana residential real estate market has a dynamic December

1/8/2021

Seller’s market projected to continue well into 2021 as inventory continues to decline and prices climb

INDIANAPOLIS – Central Indiana residential real estate continued to experience an unprecedented seller’s market as the year 2020 came to a close. Monthly real estate statistics from F.C. Tucker Company revealed a 49.8 percent decrease in central Indiana’s housing inventory compared to December 2019.

The average December home sale price for the 16-county central Indiana region was $254,522, an increase of 17.1 percent.
The year-to-date average home sale price increased by 11.4 percent, to $251,265.
Available housing inventory dropped 49.8 percent compared to December 2019.
Pended home sales increased 20.6 percent compared to this time last year.

In December 2020, 2,595 central Indiana homes were purchased, up 20.6 percent from the 2,152 sold in December 2019. Specifically:

Jackson County showed the greatest increase in the number of homes sold with 95 percent growth, compared to December 2019.
Brown County pended sales, however, had the greatest decrease with 42.9 percent fewer homes sold in December 2020 compared to December 2019.

Year-to-date home sale prices continued their upward climb:

Brown County recorded the highest average year-to-date home sale price increase at 21.6 percent compared to December 2019.
Boone County had the highest average year-to-date home sale price in the region at $373,674.
Homes sold in 32 days on average, 15.8 percent faster than year-to-date 2019. Decatur County homes left the market 15 days faster than this time last year - the greatest decrease of the 16-county central Indiana area.

Central Indiana experienced a 49.8 percent decrease in home inventory in December 2020. That represents 2,615 fewer homes available for sale than in December 2019. Every county saw home inventory decreases, and all but two counties in the 16-county area saw inventory decreases of 40.7 percent or higher.

Jennings County had the lowest inventory decrease – 17.9 percent – compared to December 2019.
Brown County inventory decreased the most significantly in central Indiana – 71.3 percent – compared to this time last year.

“The December holiday season had no effect on the dynamic central Indiana residential real estate market we experienced most of last year,” said Jim Litten, CEO of F.C. Tucker Company. “The year 2020 was unlike anything I have ever seen in my almost 50 years in real estate, and I expect this strong seller’s market to continue well into the first half of 2021.”
Of the pended home sales in the region last month, 1 was priced $2,000,000 or higher; 20 were priced $1,000,000 to $1,999,999; 157 were priced $500,000 to $999,999; 512 were priced $300,000 to $499,999; 719 were priced $200,000 to $299,999; 896 were priced $100,000 to $199,999; and 290 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 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 $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.

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