Home Sales Drop in April - Market Watch - April 2019

Central Indiana home sales increase 3.0 percent in April
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 more homes sold and increased inventory in central Indiana. April 2019 pended sales increased 3.0 percent compared to April 2018 while the average year-to-date sale price for the 15-county Central Indiana region increased 5.2 percent to $214,343.
 
Pended sales increased slightly last month while prices continue to rise. In April 2019, 4,006 central Indiana homes were purchased, up from 3,890 sold in April 2018. Specifically:

• Madison County showed the most growth in homes sold with a 33.1 percent increase in April 2019 compared to April 2018.

• Putnam County pended sales, however, continue to decrease the most. Last month, there were 27.9 percent fewer sales compared to April 2018.

 
In keeping with the previous month’s trends, homes sold faster and for more money in April, signaling that it’s still a seller’s market.

• All of the 15 counties F.C. Tucker tracks increased in average year-to-date home prices. Jennings County experienced the highest price increase at 18.5 percent compared to this time last year.

• Boone County once again had the highest average home price in the region at $333,118 while Hamilton County sits close behind at $330,547.

• Homes sold in 50 days on average, 10 days and 16.7 percent faster than year-to-date 2018. Johnson and Marion County’s homes were the fastest-selling on the market with 44 days on average.

 
Inventory increased 9.5 percent last month, with 5,098 homes listed in April 2019. That represents 444 more homes available for sale than in April 2018.

• Hancock County experienced the highest increase in inventory, with 27.4 percent more listings than April 2018. Marion County was close behind with 27.2 percent more listings.

• Shelby’s County’s inventory dropped the most at 18.0 percent compared to April 2018.

 
“Spring is a traditionally popular sales season, and with a few more homes available for sale, there are plenty of opportunities to finally ‘make your move,’” said Jim Litten, CEO and owner of the F.C. Tucker Company. “Indiana real estate continues to prove it’s a good value at any price point.”
 
Of the pended home sales in the region last month, three were priced $2,000,000 or higher; 16 were priced $1,000,000 to $1,999,999; 221 were priced $500,000 to $999,999; 678 were priced $300,000 to $499,999; 969 were priced $200,000 to $299,999; 1,587 were priced $100,000 to $199,999; and 532 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 7, 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, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam and Shelby.