More homes for the holidays - Market Watch Dec. 2021

More homes for the holidays: Unusually active December residential real estate market saw some inventory increases; home sales and prices also continued to increase

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INDIANAPOLIS – December 2021 bucked the typical trend of a quieter residential real estate market during the holidays. Monthly real estate statistics from F.C. Tucker Company revealed that December 2021 pended home sales increased 4.4 percent compared to December 2020. Year-to-date home sale prices increased 12.6 percent, and central Indiana housing inventory decreased 19.4 percent compared to this time last year.

• The average December 2021 home sale price for the 16-county central Indiana region was $293,407, an increase of 15.3 percent compared to December 2020.
• Pended home sales increased, up 4.4 percent compared to this time last year.
• Available housing inventory continued to decrease, down 19.4 percent compared to December 2020.

In December 2021, 2,710 central Indiana homes were purchased, up 4.4 percent from the 2,595 sold in December 2020. Specifically:

• Brown County showed the greatest increase in pended home sales with 200 percent growth compared to December 2020.
• Hamilton County pended sales had the greatest decrease with 11.6 percent fewer homes sold in December 2021 compared to this time last year.

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

• Johnson County recorded the highest average year-to-date home sale price increase at 20.9 percent.
• Hamilton County had the highest average home sale price in the region at $420,016.
• Homes sold in 18 days on average, 43.8 percent faster than in 2020. Brown County homes left the market 28 days faster than in December 2020 - the greatest decrease of the 16-county central Indiana area.

Central Indiana experienced a 19.4 percent decrease in overall available home inventory in December 2021, with 511 fewer homes available for sale than in December 2020. However, only six counties continued to see inventory decreases in December, while nine counties saw increases, and one county remained the same.

• Brown County had the largest inventory increase – up 56.5 percent compared to December 2020.
• Hamilton County inventory continued to experience the greatest decrease in central Indiana – down    59.9 percent – compared to this time last year.

 
“It’s unusual to see this level of residential real estate activity during December,” said Jim Litten, CEO of F.C. Tucker Company. “However, many buyers are taking advantage of low interest rates and the growth in available inventory to purchase a new home. This additional buyer demand results in a continued increase in home sale prices.”
 
Of the pended home sales in the region last month, three (3) were priced $2,000,000 or higher; 30 were priced $1,000,000 to $1,999,999; 186 were priced $500,000 to $999,999; 690 were priced $300,000 to $499,999; 816 were priced $200,000 to $299,999; 765 were priced $100,000 to $199,999; and 220 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, 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.

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