Thursday, December 29, 2016

Market update on homes for sale in Indianapolis





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F.C.Tucker reports 7.6 percent increase in November home sales
Positive momentum continues through the final months of 2016

INDIANAPOLIS – F.C. Tucker Company’s monthly real estate market stats show pended home sales jumped 7.6 percent last month compared to November 2015. The 15-county Central Indiana region experienced sustained growth, with year-to-date pended home sales up 5.7 percent and average home prices climbing 3.0 percent to $188,072.

Month to date, more than 2,000 homes sold in Central Indiana, with Hamilton County showing the largest increase in the number of homes sold among the suburban counties. In November, home sales improved in 13 of the 15 counties that F.C. Tucker tracks. Specifically:
  • Boone, Jennings and Decatur counties displayed significant growth in homes sold. Boone County’s sales increased by 43.4 percent in November 2016 compared to November 2015; Jennings County’s sales increased 33.3 percent; and Decatur County saw a 27.8 percent increase.
  • Brown and Putnam counties’ pended sales, in contrast, decreased by 57.1 percent and 36.2 percent, respectively, compared to November 2015.
Homes sold more quickly and for more money in November, both signs that the seller’s market continues.
  • The average year-to-date price in the 15-county region increased 3.0 percent, now at $188,072.
  • Boone County’s average home price, at $291,395, remained the highest of all counties that F.C. Tucker monitors. Zionsville, in Boone County, had the highest average sales price of all cities in the region. Its year-to-date average of $403,487 was 8.2 percent higher than November 2015.   
  • Only three counties showed a slight dip in average home prices: Putnam County’s average home price dropped 6.7 percent, while Bartholomew and Jennings counties’ average home prices were nearly level with 2015, declining just 1.0 and 0.6 percent respectively.
  • Homes sold in 70 days on average. Johnson County homes were the fastest-selling in the market at 63 days. Homes in Hamilton and Hendricks counties, similarly, sold in 64 and 65 days on average.  
Listings have fallen 17.2 percent; 9,166 homes were on the market in November, a decrease of 1,899 homes.
  • Brown County’s inventory dropped 44.8 percent, representing 90 fewer listings compared to November 2015.
  • On the other hand, Putnam, Bartholomew and Montgomery counties were the only areas with more inventory than this time last year.
“Inventory will continue to be tight, and buyers will need to continue to be decisive,” said Jim Litten, CEO of F.C. Tucker Company. “In this fast-paced market, multiple offers should be expected.”  

Of the pended home sales in the region last month, one was priced above $2,000,000; seven were priced $1,000,000 to $1,999,999; 71 were priced $500,000 to $999,999; 214 were priced $300,000 to $499,999; 334 were priced $200,000 to $299,999; 885 were priced $100,000 to $199,999; and 557 were priced at $99,999 or less.
Editor’s Notes:
  • All statistics were compiled by F.C. Tucker Company from a report drawn from BLC® statistics on Dec. 14, 2016. Because of delayed processing through other agencies or boards, these numbers are subject to change.
  • “Active Listings – Inventory” is a snapshot frozen in time at the end of the stated month. Active listings include “Active with Contingency Status” filings, which includes homes listed as Pending First Right of Refusal and/or Backup Pendings due to Contract, Financing, Inspection or Other.
  • “Pending” means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.
  • For this report, F.C. Tucker tracks the following counties: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam and Shelby.

PENDED SINGLE-FAMILY AND CONDOMINIUM SALES
County
November
2015
November
2016
Month-to-month % Change
Year-to-date
% Change
Bartholomew
68
77
13.2%
0.5%
Boone
53
76
43.4%
12.9%
Brown
21
9
-57.1%
-7.7%
Decatur
18
23
27.8%
-8.9%
Hamilton
350
359
2.6%
2.6%
Hancock
69
82
18.8%
5.6%
Hendricks
158
162
2.5%
5.2%
Jennings
12
16
33.3%
-10.5%
Johnson
153
160
4.6%
4.0%
Madison
110
122
10.9%
4.3%
Marion
748
830
11.0%
8.1%
Montgomery
30
30
0.0%
10.0%
Morgan
66
72
9.1%
8.5%
Putnam
47
30
-36.2%
10.0%
Shelby
33
35
6.1%
4.5%
TOTAL
1,936
2,083
7.6%
5.7%


ACTIVE LISTINGS – INVENTORY

County
November
2015
November
2016
% Change
Bartholomew
331
347
4.8%
Boone
382
333
-12.8%
Brown
201
111
-44.8%
Decatur
138
114
-17.4%
Hamilton
1,680
1,559
-7.2%
Hancock
371
318
-14.3%
Hendricks
756
657
-13.1%
Jennings
48
69
43.8%
Johnson
750
641
-14.5%
Madison
668
546
-18.3%
Marion
4,703
3,589
-23.7%
Montgomery
190
193
1.6%
Morgan
422
311
-26.3%
Putnam
197
210
6.6%
Shelby
228
168
-26.3%
TOTAL
11,065
9,166
-17.2%
AVERAGE SALES PRICE

County
YTD
November 2015
YTD
November 2016
% Change
Bartholomew
$194,333
$192,326
-1.0%
Boone
$269,506
$291,395
8.1%
Brown
$183,803
$190,264
3.5%
Decatur
$123,546
$134,879
9.2%
Hamilton
$277,124
$286,374
3.3%
Hancock
$168,949
$177,171
4.9%
Hendricks
$187,883
$192,982
2.7%
Jennings
$103,224
$102,557
-0.6%
Johnson
$175,172
$183,861
5.0%
Madison
$94,891
$101,216
6.7%
Marion
$146,605
$150,734
2.8%
Montgomery
$108,704
$115,754
6.5%
Morgan
$156,401
$165,418
5.8%
Putnam
$141,249
$131,720
-6.7%
Shelby
$121,699
$126,310
3.8%
TOTAL
$182,523
$188,072
3.0%




# # #

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.














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