November saw another unusually active residential real estate market in central Indiana; home sales and prices continue to increase - Market Watch Nov. 2021

“The increase in available inventory in some counties is providing additional opportunities for central Indiana residents looking to purchase a home,” said Jim Litten, CEO of F.C. Tucker Company. “However, we’re still experiencing a strong residential real estate seller’s market with home prices continuing to increase. I anticipate we’ll see this trend continue through the end of the year and into 2022.”

INDIANAPOLIS – While half of central Indiana counties saw housing inventory increases in November, the seller’s market continued with both home sales and home prices increasing. Monthly real estate statistics from F.C. Tucker Company revealed that November 2021 pended home sales increased 6.9 percent compared to November 2020. Year-to-date home sale prices increased 12.2 percent, and central Indiana housing inventory decreased 18.4 percent overall compared to this time last year.

• The average November 2021 home sale price for the 16-county central Indiana region was $288,685, an increase of 11.3 percent.
• Pended home sales increased, up 6.9 percent compared to this time last year.
• Available housing inventory continued to decrease, down 18.4 percent compared to November 2020.

In November 2021, 3,478 central Indiana homes were purchased, up 6.9 percent from the 3,253 sold in November 2020. Specifically:

• Brown County showed the greatest increase in pended home sales with 66.7 percent growth compared to November 2020.
• Bartholomew County pended sales had the greatest decrease with 8.3 percent fewer homes sold in November 2021 compared to this time last year.

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

• 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 $419,195.
• Homes sold in 18 days on average, 43.8 percent faster than in 2020. Putnam County homes left the market 29 days faster than in November 2020 - the greatest decrease of the 16-county central Indiana area.

Central Indiana experienced an 18.4 percent decrease in available home inventory in November 2021. That represents 588 fewer homes available for sale than in November 2020. Unlike previous months, however, only six counties continued to see inventory decreases in November, while eight counties actually saw increases.

• Brown County had the largest inventory increase – up 57.7 percent compared to November 2020.
• Hamilton County inventory continued to experience the greatest decrease in central Indiana – down    51 percent – compared to this time last year.

 
“The increase in available inventory in some counties is providing additional opportunities for central Indiana residents looking to purchase a home,” said Jim Litten, CEO of F.C. Tucker Company. “However, we’re still experiencing a strong residential real estate seller’s market with home prices continuing to increase. I anticipate we’ll see this trend continue through the end of the year and into 2022.”
   
Of the pended home sales in the region last month, two (2) were priced $2,000,000 or higher; 32 were priced $1,000,000 to $1,999,999; 260 were priced $500,000 to $999,999; 891 were priced $300,000 to $499,999;   1,042 were priced $200,000 to $299,999; 1,022 were priced $100,000 to $199,999; and 229 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 December 7, 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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