Central Indiana home sales rise 6.2 percent in May
F.C. Tucker reports continued growth in housing sales as prices increase another month
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicated that the housing market is not slowing down. May 2017 pended sales climbed 6.2 percent compared to May 2016. Similarly, the average year-to-date home price for the 15-county Central Indiana region rose 6.6 percent to $192,206.
Homebuyers continue to purchase homes at a rapid rate as the number of houses for sale continued to decline, purchasing 3,398 homes in Central Indiana, an increase from 3,199 sold in May 2016. Many 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 May, signaling a strong seller’s market.
Listings dropped by 21 percent. In May 2017, inventory stood at 8,047 homes, a decrease of 2,137 from the same time in 2016.
“Although we’d like to see more homes for sale to balance out the market, buyers with their financing in order can still find plenty of opportunities to make a move,” said Jim Litten, CEO of F.C. Tucker Company. “And Indiana real estate consistently remains a good value.”
Of the pended home sales in the region last month, 11 were priced $1,000,000 to $1,999,999; 139 were priced $500,000 to $999,999; 426 were priced $300,000 to $499,999; 675 were priced $200,000 to $299,999; 1,447 were priced $100,000 to $199,999; and 700 were priced at $99,999 or less.