“Home inventory in Indiana remains tight, making it an ideal market for sellers" Market Watch July 2019

“Home inventory in Indiana remains tight, making it an ideal market for sellers,” said Jim Litten, CEO of F.C. Tucker Company. “However, a good selection of homes at varying price points exists, so homebuyers should not be deterred as they begin their housing search.”

Central Indiana home sales increase 5 percent in July
F.C. Tucker continues to report higher sale prices as home sales increase once again 

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate a decrease in inventory as sale prices continue to climb. July 2019 pended sales increased 5 percent compared to July 2018, while the average year-to-date sale price for the 16-county central Indiana region increased 4.5 percent to $224,479.

Central Indiana continues to see rising pended sales. In July 2019, 3,966 central Indiana homes were purchased, up from 3,778 sold in July 2018. Specifically:

• Jennings County showed the most growth in homes sold with a 36.4 percent increase in July 2019 compared to July 2018. 
  
• Putnam County pended sales, however, decreased with 35.3 percent fewer homes sold last month compared to July 2018.
  

On average homes sold much faster and for more money in July, meaning it’s still a strong seller’s market.

• All 16 counties F.C. Tucker tracks increased in average year-to-date home prices. Jennings County experienced the highest price increase at 18.9 percent compared to this time last year.
  
• Boone County continues to hold the highest average home price in the region at $343,513.
  
• Homes sold in 40 days on average, 11.1 percent faster than year-to-date 2018. Hendricks, Johnson and Marion county homes left the market the fastest at just 33 days on average in Hendricks county and 36 days on average in both Johnson and Marion counties.
  

The market continues to see fewer homes for sale as inventory decreased 0.5 percent last month. In July 2019, 6,302 homes were listed, 33 fewer than in July 2018.

• Jackson County experienced the highest increase in inventory with a significant 140.6 percent more listings than July 2018. 
  
• Montgomery County’s inventories dropped the most at 21.3 percent compared to July 2018.
  

“Home inventory in Indiana remains tight, making it an ideal market for sellers,” said Jim Litten, CEO of F.C. Tucker Company. “However, a good selection of homes at varying price points exists, so homebuyers should not be deterred as they begin their housing search.”

Of the pended home sales in the region last month, one was priced $2,000,000 or higher; 13 were priced $1,000,000 to $1,999,999; 187 were priced $500,000 to $999,999; 640 were priced $300,000 to $499,999; 1,010 were priced $200,000 to $299,999; 1,593 were priced $100,000 to $199,999; and 522 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 August 6, 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 July 7, 2019.
  

PENDED SINGLE-FAMILY AND CONDOMINIUM SALE

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.