Homes continued to sell quickly and for increased prices - Market Watch Sept. 2021

September residential real estate market continues its strong run.

INDIANAPOLIS – With inventory continuing to decline in most of central Indiana, the residential real estate market was fast moving during September 2021. Monthly real estate statistics from F.C. Tucker Company revealed that September’s pended home sales decreased slightly, down 6.9 percent compared to September 2020. Year-to-date home sale prices increased 12.5 percent, and available housing inventory decreased 18.6 percent compared to this time last year.

• The average September 2021 home sale price for the 16-county central Indiana region was $288,780, an increase of 9.7 percent.
• Pended home sales decreased, down 6.9 percent compared to this time last year.
• Available housing inventory decreased 18.6 percent compared to September 2020.

In September 2021, 3,884 central Indiana homes were purchased, down 6.9 percent from the 4,170 sold in September 2020. Specifically:

• Brown County showed the greatest increase in pended home sales with 33.3 percent growth compared to September 2020.
• Jackson County pended sales had the greatest decrease with 36.9 percent fewer homes sold in September 2021 compared to this time last year.

The year-to-date sale price of homes in central Indiana continued to increase:

• Madison County recorded the highest average year-to-date home sale price increase at 22.3 percent.
• Boone County had the highest average home sale price in the region at $420,171.
• Homes sold in 19 days on average, 45.7 percent faster than in 2020. Putnam County homes left the market 34 days faster than in September 2020 - the greatest decrease of the 16-county central Indiana area.

Central Indiana experienced an 18.6 percent decrease in available home inventory in September 2021. That represents 683 fewer homes available for sale than in September 2020. Eleven of 16 central Indiana counties continued to see inventory decreases.

• Decatur County had the largest inventory increase – up 42.1 percent compared to September 2020.
• Hamilton County inventory continued to experience the greatest decrease in central Indiana – down 50.8 percent – compared to this time last year.

 
“Inventory continued to decline in most central Indiana counties, creating a fast-moving residential real estate market during the month of September,” said Jim Litten, CEO of F.C. Tucker Company. “The robust seller’s market also resulted in home sale price increases in the double digits for yet another month.”
 
Of the pended home sales in the region last month, three (3) were priced $2,000,000 or higher; 37 were priced $1,000,000 to $1,999,999; 294 were priced $500,000 to $999,999; 967 were priced $300,000 to $499,999;   1,232 were priced $200,000 to $299,999; 1,089 were priced $100,000 to $199,999; and 262 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 October 6, 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

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

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