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June 2017 – Central Indiana Market Watch

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Central Indiana home sales rise staggering 11.8 percent in June

F.C. Tucker reports continued growth in housing sales as prices increase another month

 

 

INDIANAPOLIS – Halfway through the year, monthly real estate stats from F.C. Tucker Company indicated that the housing market is still not slowing down. June 2017 pended sales climbed 11.8 percent compared to June 2016. Similarly, the average year-to-date home price for the 15-county Central Indiana region rose 6.1 percent to $196,627.

 

As the number of houses for sale continued to decline, homebuyers purchased available homes rapidly; 3,428 homes were purchased in Central Indiana in June, an increase from 3,066 sold in June 2016. Many of the counties that F.C. Tucker tracks experienced an increase in sales. Specifically:

  • Bartholomew County showed significant growth in homes sold, a 30.9 percent increase in June 2017 compared to June 2016. Madison County followed close behind with a 28.1 percent increase in sales.
  • Montgomery and Hancock counties’ pended sales, in contrast, decreased by 22.4 percent and 17.7 percent, respectively, compared to June 2016.

 

In keeping with the previous month’s trends, homes sold more quickly and for more money in June, signaling a strong seller’s market.

  • Thirteen of the 15 counties that F.C. Tucker tracks showed an uptick in average year-to-date home prices.
  • Hamilton County again ranked highest with average home prices at $300,840. Boone County’s average home prices, slightly lower than Hamilton County’s, came in at $296,648.
  • Jennings County’s average home price dropped 7 percent and Shelby County’s dropped 2.2 percent, the only two counties in the region to dip in June.
  • Homes sold in 65 days on average January through June 2017, 11 days quicker than the same time period as last year. Johnson and Hendricks counties’ homes became the fastest-selling in the market at 60 and 61 days respectively, while Hamilton and Hancock counties came in a close second with homes selling in 62 and 63 days.

 

Listings dropped by 17.7 percent. In June 2017, inventory stood at 8,406 homes, a decrease of 1,812 from the same time in 2016.

  • None of the 15 counties that F.C. Tucker tracks showed an uptick in active listings compared to June 2016.
  • Putnam and Shelby counties’ inventory dropped 29.6 percent and 26.9 percent respectively, representing 68 and 52 fewer listings compared to June 2016.

 

“We want to reassure buyers that although inventory remains limited, there are still many great housing options available,” said Jim Litten, CEO of F.C. Tucker Company. “Indiana’s housing market is strong and is on track to remain so through the duration of 2017.”

 

Of the pended home sales in the region last month, two were priced over $2,000,000; 14 were priced $1,000,000 to $1,999,999; 132 were priced $500,000 to $999,999; 416 were priced $300,000 to $499,999; 650 were priced $200,000 to $299,999; 1,516 were priced $100,000 to $199,999; and 698 were priced at $99,999 or less.

 

PENDED SINGLE-FAMILY AND CONDOMINIUM SALES

 

County June

2016

June

2017

Month-to-month % Change Year-to-date
% Change
Bartholomew 94 123 30.9% -16.9%
Boone 112 116 3.6% -4.1%
Brown 30 36 20.0% 23.8%
Decatur 28 28 0.0% 7.0%
Hamilton 595 627 5.4% 2.3%
Hancock 124 102 -17.7% 2.5%
Hendricks 252 282 11.9% 6.3%
Jennings 17 18 5.9% 10.7%
Johnson 209 250 19.6% -5.1%
Madison 139 178 28.1% 8.2%
Marion 1,216 1,415 16.4% 6.4%
Montgomery 58 45 -22.4% -6.3%
Morgan 85 97 14.1% -1.1%
Putnam 52 52 0.0% -1.2%
Shelby 55 59 7.3% 6.6%
TOTAL 3,066 3,428 11.8% 2.9%

 

 

ACTIVE LISTINGS – INVENTORY           

 

County June

2016

June

2017

% Change
Bartholomew 358 312 -12.8%
Boone 409 351 -14.2%
Brown 175 166 -5.1%
Decatur 111 81 -27.0%
Hamilton 1,799 1,708 -5.1%
Hancock 348 289 -17.0%
Hendricks 728 645 -11.4%
Jennings 66 52 -21.2%
Johnson 679 533 -21.5%
Madison 518 412 -20.5%
Marion 4,050 3,085 -23.8%
Montgomery 171 138 -19.3%
Morgan 383 331 -13.6%
Putnam 230 162 -29.6%
Shelby 193 141 -26.9%
TOTAL 10,218 8,406 -17.7%

 

 

AVERAGE SALE PRICE

 

County YTD
June 2016
YTD
June 2017
% Change
Bartholomew $195,282 $195,657 0.2%
Boone $285,944 $296,648 3.7%
Brown $209,124 $221,701 6.0%
Decatur $129,487 $135,029 4.3%
Hamilton $281,521 $300,840 6.9%
Hancock $173,431 $184,688 6.5%
Hendricks $190,024 $207,066 9.0%
Jennings $116,333 $108,183 -7.0%
Johnson $187,709 $202,951 8.1%
Madison $95,499 $100,675 5.4%
Marion $147,080 $157,400 7.0%
Montgomery $106,530 $116,673 9.5%
Morgan $163,013 $172,902 6.1%
Putnam $122,565 $145,759 18.9%
Shelby $129,473 $126,612 -2.2%
TOTAL $185,283 $196,627 6.1%

 

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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.