Central Indiana home sales increase in December

Inventory tightens by 3.3 percent, while sales prices are up year-to-date over 2013

 INDIANAPOLIS – Nearly 1,500 homes pended in December, with all but three Central Indiana counties reporting increased sales compared to the same time period last year, according to statistics compiled by F.C. Tucker Company. Overall, Central Indiana home sales for December 2014 pended home sales rose to 1,497 over December 2013, an increase of 43 homes sold in the nine counties that F.C. Tucker tracks.

In December, Shelby County saw the largest increase in pended home sales which spiked 75 percent, raising the number of pended home sales to 35 from 20 in December 2013. Morgan and Hancock counties also experienced increases of 30.4 and 26.8 percent over December 2013, respectively. Madison, Hendricks and Marion counties also saw an uptick. Home sales declined in Hamilton, Johnson and Boone counties. The largest decrease was seen in Hamilton County where sales dipped 13.3 percent.

Year-to-date, sales in the nine-county region decreased 2.6 percent in 2014 with 28,762 homes sold compared to 29,529 homes in 2013.

Available homes for sale in the nine-county region dropped 3.3 percent in December 2014 with 9,274 homes on the market, 320 fewer than in December 2013. Seven Central Indiana counties experienced varying inventory declines with Johnson County experiencing the greatest decrease in inventory at 14.8 percent. Inventory also declined in Boone, Hancock, Hendricks, Madison, Marion and Shelby counties. Available homes for sale increased in Morgan and Hamilton counties, 2.7 and 1.8 percent respectively.

“Listing inventory continues to fall while home sales prices inch up – all positive indications that stabilization continues across Central Indiana,” said Jim Litten, president of F.C. Tucker Company. “We expect this positive movement to continue into the first half of 2015 as well.”

Overall, sales prices for the nine-county Central Indiana area increased by 5.9 percent. Tucker’s data indicates that all nine counties experienced slightly higher home sales prices than in December 2013. Year-to-date, Shelby and Boone counties led the way with 16.8 and 10.6 percent increases in home sales prices. The average year-to-date sales price for a home in the nine-county area was $176,750.

Of the pended home sales in the region last month, four were priced $1,000,000 to $1,999,999; 38 were priced $500,000 to $999,999; 127 were priced $300,000 to $499,999; 195 were priced $200,000 to $299,999; 622 were priced $100,000 to $199,999 and 511 were priced at $99,999 or less.

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Pended single-family and condominium home sales

Active Listings – Inventory

Average Sale Price

Pended Single-family and Condominium Home Sales
County Dec 2013 Dec 2014 Month-to-month % Change Year-to-date % Change Boone 56 53 -5.4% -4.1% Hamilton 300 260 -13.3% -3.8% Hancock 56 71 26.8% 2.3% Hendricks 121 128 5.8% -1.8% Johnson 131 123 -6.1% 1.5% Madison 77 96 24.7% -2.4% Marion 647 671 3.7% -3.2% Morgan 46 60 30.4% 0.5% Shelby 20 35 75.0% -11.8% TOTAL 1,454 1,497 3.0% -2.6%

Active Listings – Inventory
County Dec 2013 Dec 2014 % Change Boone 366 355  -3.0% Hamilton 1,461 1,488  1.8% Hancock 385 348  -9.6% Hendricks 782 707  -9.6% Johnson 820 699 -14.8% Madison 710 654  -7.9% Marion 4,436 4,409   -0.6% Morgan 405 416   2.7% Shelby 229 198 -13.5% TOTAL 9,594 9,274 -3.3%

Average Sale Price
County YTD Dec 2013 YTD Dec 2014 % Change Boone $254,560 $281,444 10.6% Hamilton $254,769 $267,559 5.0% Hancock $152,708 $157,410 3.1% Hendricks $171,172 $177,111 3.5% Johnson $156,185 $166,890 6.9% Madison $84,900 $86,434 1.8% Marion $128,437 $137,011 6.7% Morgan $143,857 $146,729 2.0% Shelby $102,299 $119,460 16.8% Average Sales Price $166,852 $176,750 5.9%

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Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on January 7, 2014. 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.

Pended Single-family and Condominium Home Sales in Select Additional Central Indiana Counties

County Dec   2013 Dec 2014 Month-to-month % Change Year-to-date % Change Bartholomew 43 58 34.9% 16.2% Brown 7 14 100.0% 7.1% Henry 11 26 136.4% 17.4% Monroe     12 11 -8.3% -8.2% Montgomery 21 24 14.3% -0.7% Putnam 17 38 123.5% -8.7%

Active Listings – Inventory in Select Additional Central Indiana Counties
County Dec 2013 Dec  2014 % Change Bartholomew 261 272 4.2% Brown 144 137  -4.9% Henry 204 199 -2.5% Monroe 68 94 38.2% Montgomery 242 216 -10.7% Putnam 231 252 9.1%

Average Sale Price in Select Additional Central Indiana Counties
County YTD Dec 2013 YTD Dec 2014 % Change Bartholomew $177,752 $190,447 7.1% Brown $166,054 $172,175 3.7% Henry   $83,406  $87,855 5.3% Monroe $189,051 $216,166 14.3% Montgomery $102,252 $104,034 1.7% Putnam $112,490 $122,081 8.5%

With approximately $3.4 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.