F.C. Tucker reports continued growth in housing sales as prices maintain upward momentum
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the housing market in Central Indiana continues to climb. December 2017 pended sales increased 6.9 percent compared to December 2016 while the average year-to-date home price for the 15-county Central Indiana region rose 5.8 percent to $199,605.
Homebuyers quickly purchased available homes as the number of houses for sale continued to decline; 1,981 homes were purchased in Central Indiana in December, an increase from 1,854 sold in December 2016. Many of the counties that F.C. Tucker tracks experienced an increase in sales. Specifically:
· Hancock County showed significant growth in homes sold with a 46.2 percent increase in December 2017 compared to December 2016. Bartholomew County followed with a 34.0 percent increase in sales.
· Jennings County pended sales, in contrast, decreased by 43.8 percent compared to December 2016.
Consistent with the rest of the year, homes sold more quickly and for more money in December, 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 tenth consecutive month at $302,595. Boone County’s average home prices remain close behind at $299,185.
· Homes sold 60 days on average between January and December 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 55 days.
Listings dropped a remarkable 21.6 percent. In December 2017, inventory stood at 6,163 homes, a decrease of 1,694 compared to December 2016 and the lowest all year.
· No county showed an uptick in active listings this month. Putnam County’s inventory dropped the most at 35.5 percent, representing 66 fewer listings compared to December 2016. Close behind, inventory in Jennings County dropped 32.8 percent, representing 20 fewer listings.
“The housing market closed out 2017 as strong as it began, showing no signs of slowing down as we enter 2018,” said Jim Litten, CEO of F.C. Tucker Company. “Although the market still skews in favor of the seller, buyers are still able to find homes at reasonable price points.”
Of the pended home sales in the region last month, nine were priced $1,000,000 to $1,999,999; 81 were priced $500,000 to $999,999; 229 were priced $300,000 to $499,999; 368 were priced $200,000 to $299,999; 853 were priced $100,000 to $199,999; and 441 were priced at $99,999 or less.
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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.