CENTRAL INDIANA HOME PRICES CONTINUED TO INCREASE IN MARCH, EVEN WITH A SLIGHT DECREASE IN HOME SALES - Market Watch APRIL 2020

​"Despite the financial uncertainties brought about by the COVID-19 pandemic, the Central Indiana real estate market remained active in March,” said Jim Litten, CEO of F.C. Tucker Company. "Inventory continues to remain low, prompting a continued increase in home sale prices."  

​INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company showed Central Indiana home sales decreased slightly in March 2020; however, home prices continued to increase and inventory continued to decrease. Pended home sales decreased 3.5 percent, but the average home sale price for the 16-county central Indiana region in March was $239,714, an increase of 9.8 percent. The year-to-date average home sale price also increased, by 8.8 percent, to $229,889. Home inventory decreased by 9.9 percent, compared to this time last year.
 
In March 2020, 3,540 central Indiana homes were purchased, down 3.5 percent from the 3,668 sold in March 2019. Specifically: 

• Jennings County once again showed the most growth in homes sold with a 16.7 percent increase in March 2020 compared to March 2019. 
• Jackson County pended sales, however, decreased with 15.1 percent fewer homes sold last month compared to March 2019.

Year-to-date home sale prices increased, and homes also left the market more quickly compared to this time last year.

• Brown County recorded the highest average year-to-date home sale price increase at 35 percent compared to March 2019.
• Boone County had the highest average year-to-date home sale price in the region at $356,860.
• Homes sold in 50 days on average, 5.7 percent faster than year-to-date 2019. Jennings County homes left the market at 34 days on average, the fastest of the 16-county central Indiana area.

Inventory decreased 9.9 percent last month, with 4,398 homes listed in March 2020. That represents 483 fewer homes available for sale than in March 2019.

• Jackson County once again experienced the highest increase in inventory with 61.3 percent more listings than March 2019.
• Decatur County inventories dropped the most at 38.3 percent compared to this time last year.

 
"Despite the financial uncertainties brought about by the COVID-19 pandemic, the Central Indiana real estate market remained active in March,” said Jim Litten, CEO of F.C. Tucker Company. "Inventory continues to remain low, prompting a continued increase in home sale prices."  
 
Of the pended home sales in the region last month, 1 was priced $2,000,000 or higher; 18 were priced $1,000,000 to $1,999,999; 168 were priced $500,000 to $999,999; 651 were priced $300,000 to $499,999; 961 were priced $200,000 to $299,999; 1,361 were priced $100,000 to $199,999; and 380 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 April 6, 2020. 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

With more than $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. For more information, visit talktotucker.com