September sees 2.1 percent decrease in Central Indiana home sales
Sale prices continue to grow while pended sales decline for the third time this year
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the housing market experienced a decline in pended sales last month. September 2018 pended sales decreased 2.1 percent compared to September 2017 while the average year-to-date sale price for the 15-county Central Indiana region increased 7.6 percent to $214,478.
Last month fewer buyers purchased homes as inventory continues to decrease. In September 2018, 3,025 Central Indiana homes were purchased, down from 3,090 sold in September 2017. Specifically:
Despite fewer pended sales, on average homes sold much faster and for more money in September, signaling that it’s still a seller’s market.
Inventory continues to decrease, however there were just 2.5 percent fewer homes listed than this time last year, the smallest decrease this year. In September 2018, inventory stood at 6,893 homes, a decrease of 174 compared to September 2017.
“The housing market remains in sellers’ favor as we move towards the end of 2018,” said Jim Litten, CEO of F.C. Tucker Company. “While there was a slight dip in sales, sellers should be encouraged by quick sales and higher home prices, and buyers will be pleased that inventory decreased only slightly for the first time this year and offers homes at a variety of prices.”
Of the pended home sales in the region last month, two were priced $2,000,000 or higher; 14 were priced $1,000,000 to $1,999,999; 117 were priced $500,000 to $999,999; 436 were priced $300,000 to $499,999; 658 were priced $200,000 to $299,999; 1,291 were priced $100,000 to $199,999; and 507 were priced at $99,999 or less.
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.