Central Indiana home sales jump 17.6 percent in March

After last month’s pended sales declined, housing sales and prices are now rising

 

INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the housing market is on the rise once again. March 2018 pended sales increased 17.6 percent compared to March 2017 while the average year-to-date sales price for the 15-county Central Indiana region increased 7.6 percent to $199,995.

 

Despite the increasingly lower number of available homes for purchase, every county saw an increase in pended sales as homes left the market faster. Pended sales went from 3,605 Central Indiana homes purchased in March 2017 to 4,240 in March 2018. Specifically:

      Putnam County showed the most growth in homes sold with an unprecedented 100 percent increase in March 2018 compared to March 2017.

      Eight of the 15 counties tracked experienced at least 30 percent more sales than this time last year.

 

On average, homes sold much faster and for more money in March, signaling that it’s still a seller’s market.

      Of the 15 counties F.C. Tucker tracks, only Jennings County showed a decrease in average year-to-date home prices at 6.8 percent. 

      Hamilton County continues its streak with the highest average home prices at $312,334. Shelby County experienced the highest price increase from March 2017 to March 2018 at 21.4 percent.

      Homes sold 65 days on average, 12 days and 15.6 percent faster than January to March last year. Marion County’s homes were the fastest-selling in the market at 57 days.

 

Listings dropped significantly this month, reaching 28 percent fewer homes for sale. In March 2018, inventory stood at 4,346 homes, a decrease of 1,693 compared to 6,039 homes in March 2017.

      Bartholomew County’s inventory dropped the most at 39.5 percent, representing 107 fewer listings compared to March 2017.

      While no county experienced an increase in inventory, Boone County lost the fewest listings with a 9.8 percent decrease.

 

“It’s peak selling season, and buyers are facing more competition as listings continue to drop lower than we’ve seen in years,” said Jim Litten, CEO of F.C. Tucker Company. “Without much new construction to add to inventory, homes that are available sell for more money than usual and much faster.”

 

Of the pended home sales in the region last month, none were priced $2,000,000 or higher; 18 were priced $1,000,000 to $1,999,999; 180 were priced $500,000 to $999,999; 614 were priced $300,000 to $499,999; 880 were priced $200,000 to $299,999; 1,833 were priced $100,000 to $199,999; and 715 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 March 16, 2018. Because of delayed processing through other agencies or boards, these numbers are subject to change.

      “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.

      “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.

      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.



PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

County

March

2017

March

2018

Month-to-month % Change

Year-to-date
% Change

Bartholomew

111

153

37.8%

14.7%

Boone

120

144

20.0%

10.2%

Brown

21

28

33.3%

3.3%

Decatur

26

34

30.8%

14.8%

Hamilton

735

794

8.0%

3.9%

Hancock

117

153

30.8%

5.6%

Hendricks

309

368

19.1%

6.6%

Jennings

14

20

42.9%

-19.2%

Johnson

257

314

22.2%

9.9%

Madison

154

208

35.1%

3.6%

Marion

1,510

1,704

12.8%

6.4%

Montgomery

49

58

18.4%

15.9%

Morgan

91

126

38.5%

18.3%

Putnam

42

84

100.0%

53.1%

Shelby

49

52

6.1%

3.0%

TOTAL

3,605

4,240

17.6%

7.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



ACTIVE LISTINGS – INVENTORY    

 

County

March

2017

March

2018

% Change

Bartholomew

271

164

-39.5%

Boone

224

202

-9.8%

Brown

134

82

-38.8%

Decatur

89

63

-29.2%

Hamilton

1,215

976

-19.7%

Hancock

187

165

-11.8%

Hendricks

419

310

-26.0%

Jennings

52

40

-23.1%

Johnson

399

322

-19.3%

Madison

330

227

-31.2%

Marion

2,152

1,370

-36.3%

Montgomery

111

89

-19.8%

Morgan

204

156

-23.5%

Putnam

127

99

-22.0%

Shelby

125

81

-35.2%

TOTAL

6,039

4,346

-28.0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

AVERAGE SALE PRICE

 

County

YTD
March 2017

YTD
March 2018

% Change

Bartholomew

$190,774

$198,806

4.2%

Boone

$282,434

$286,133

1.3%

Brown

$189,513

$207,114

9.3%

Decatur

$134,551

$139,213

3.5%

Hamilton

$291,881

$312,334

7.0%

Hancock

$177,986

$204,616

15.0%

Hendricks

$201,097

$210,001

4.4%

Jennings

$109,903

$102,421

-6.8%

Johnson

$194,456

$199,898

2.8%

Madison

$90,116

$103,688

15.1%

Marion

$149,177

$161,676

8.4%

Montgomery

$107,755

$108,075

0.3%

Morgan

$153,650

$180,973

17.8%

Putnam

$132,833

$142,982

7.6%

Shelby

$121,525

$147,473

21.4%

TOTAL

$185,819

$199,995

7.6%

 

# # #

 

With approximately $3.7 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.