Central Indiana home sales increase 7.4 percent in February
F.C. Tucker reports average home prices continue to climb, time on market decreases
INDIANAPOLIS – F.C. Tucker Company’s monthly real estate market stats indicated the housing market is still going strong. February 2017 pended sales were up 7.4 percent compared to February 2016. Similarly, the average year-to-date home price for the 15-county Central Indiana region rose 9.5 percent to $184,170.
Despite a dwindling number of houses for sale, home buyers were undaunted, purchasing 2,497 homes in Central Indiana last month, an increase from 2,324 homes sold in February 2016. The majority of the counties that F.C. Tucker tracks experienced an increase in sales. Specifically:
In keeping with the previous month’s trends, homes sold more quickly and for more money in February, signaling a strong seller’s market.
Listings dropped a significant 18.7 percent; 7,500 homes were on the market in February 2017, a decrease of 1,720 from the same time in 2016.
“By all indications, consumer confidence is rising as people are more satisfied with the current state of their finances, said Jim Litten, CEO of F.C. Tucker Company. “This increased confidence typically leads to more spending on large items such as a home—good news for the central Indiana housing market!”
Of the pended home sales in the region last month, two were priced at $2,000,000 and above, 12 were priced $1,000,000 to $1,999,999; 83 were priced $500,000 to $999,999; 280 were priced $300,000 to $499,999; 421 were priced $200,000 to $299,999; 1,089 were priced $100,000 to $199,999; and 610 were priced at $99,999 or less.