Central Indiana home sales increase 10.5 percent in November

Hamilton County ranked highest in average home prices for the ninth consecutive month

Monthly real estate stats from F.C. Tucker Company indicate that the housing market in Central Indiana continues to climb. November 2017 pended sales increased an impressive 10.5 percent compared to November 2016 while the average year-to-date home price for the 15-county Central Indiana region rose 5.9 percent to $199,302.

Homebuyers quickly purchased available homes as the number of houses for sale continued to decline; 2,308 homes were purchased in Central Indiana in November, an increase from 2,088 sold in November 2016. Many of the counties that F.C. Tucker tracks experienced an increase in sales.

Just as they have all year, homes sold more quickly and for more money in November, signaling that it’s still a strong seller’s market. ● All 15 counties that F.C. Tucker tracks showed an increase in average year-to-date home prices. ● Hamilton County ranked highest in average home prices for the ninth consecutive month at $301,437. Boone County’s average home prices remain close behind at $298,587. ● Homes sold 60 days on average between January and November 2017, 11 days faster than in the same period last year. Johnson County’s homes continue to be the fastest-selling in the market at 54 days.

Listings dropped a noteworthy 21 percent. In November 2017, inventory stood at 7,259 homes, a decrease of 1,935 compared to November 2016 and the lowest all year. ● No county showed an uptick in active listings this month. Putnam County’s inventory dropped the most at 36.2 percent, representing 76 fewer listings compared to November 2016. Close behind, inventory in Jennings and Madison counties dropped 31.9 percent, representing 22 and 174 fewer listings, respectively.

“Another substantial sales increase puts the Central Indiana housing market in a good position as we approach the end of 2017,” said Jim Litten, CEO of F.C. Tucker Company. “Despite a competitive sales environment, buyers are finding homes at reasonable price points.”

Of the pended home sales in the region last month, one was priced $2,000,000 or higher; five were priced $1,000,000 to $1,999,999; 75 were priced $500,000 to $999,999; 268 were priced $300,000 to $499,999; 408 were priced $200,000 to $299,999; 1,035 were priced $100,000 to $199,999; and 516 were priced at $99,999 or less.