Central Indiana home sales up 17.8 percent year to date; down slightly for September

Central Indiana home sales up 17.8 percent year to date;
down slightly for September
Inventory tightens by 7.5 percent; eight counties show drop in available homes for sale

INDIANAPOLIS – With 1,921 pended sales in September in Central Indiana, overall year-to-date home sales are up 17.8 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.

On a monthly basis, September 2013 pended home sales declined 1.6 percent compared to September 2012, a decrease of 31 homes sold in the nine counties that F.C. Tucker tracks. Four of the nine counties reported increased sales compared to September 2012. 

“Real estate sales have been strong in 2013 compared to 2012,” said Jim Litten, president of F.C. Tucker Company. “We’ve already sold more than 23,000 homes year-to-date, and we’re on pace to end the year in higher territory.”

In September, Hancock County saw the largest increase in pended home sales which climbed 21.3 percent, raising the number of pended home sales to 91 from 75 in September 2012. Johnson and Madison counties also experienced increases of 11.6 and 7.9 percent, respectively, over September 2012. Hendricks County saw the biggest decline, decreasing 16.2 percent compared to September of last year. Shelby County experienced a decrease as well, down 13.2 percent.

Available homes for sale in the nine-county region dropped 7.5 percent in September 2013 with 11,963 homes on the market, 963 fewer than in September 2012. Eight Central Indiana counties experienced varying inventory declines with Hamilton County experiencing the greatest decrease in inventory at 15.5 percent. Johnson County’s inventory increased by 51 homes to 1,002, while Madison County’s inventory remained nearly level compared to September 2012.

Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 5.9 percent. Tucker’s data indicates that eight counties experienced slightly higher home sales prices than in September 2012. Year-to-date, Hancock and Madison counties led the way with a 9 percent increase in home sales prices, while Boone, Hamilton, Hendricks, Johnson, Marion and Morgan counties also reported gains. Shelby County experienced a slight decrease of 0.8 percent. The average year-to-date sales price for a home in the nine-county area was $165,283.

Of the pended home sales in the region last month, one was priced more than $2,000,000; six were priced $1,000,000 to $1,999,999; 46 were priced $500,000 to $999,999; 148 were priced $300,000 to $499,999; 261 were priced $200,000 to 299,999; 798 were priced $100,000 to $199,999 and 661 were priced at $99,999 or less.


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