Central Indiana home sales jump 17.6 percent in March
After last month’s pended sales declined, housing sales and prices are now rising
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the housing market is on the rise once again. March 2018 pended sales increased 17.6 percent compared to March 2017 while the average year-to-date sales price for the 15-county Central Indiana region increased 7.6 percent to $199,995.
Despite the increasingly lower number of available homes for purchase, every county saw an increase in pended sales as homes left the market faster. Pended sales went from 3,605 Central Indiana homes purchased in March 2017 to 4,240 in March 2018. Specifically:
On average, homes sold much faster and for more money in March, signaling that it’s still a seller’s market.
Listings dropped significantly this month, reaching 28 percent fewer homes for sale. In March 2018, inventory stood at 4,346 homes, a decrease of 1,693 compared to 6,039 homes in March 2017.
“It’s peak selling season, and buyers are facing more competition as listings continue to drop lower than we’ve seen in years,” said Jim Litten, CEO of F.C. Tucker Company. “Without much new construction to add to inventory, homes that are available sell for more money than usual and much faster.”
Of the pended home sales in the region last month, none were priced $2,000,000 or higher; 18 were priced $1,000,000 to $1,999,999; 180 were priced $500,000 to $999,999; 614 were priced $300,000 to $499,999; 880 were priced $200,000 to $299,999; 1,833 were priced $100,000 to $199,999; and 715 were priced at $99,999 or less.