Market Watch

Central Indiana home sales up 13.1 percent year to date
Inventory tightens by 16.9 percent; nine counties show drop in available homes for sale

INDIANAPOLIS – With more than 2,516 pended sales in March in Central Indiana, overall

year-to-date home sales are up 13.1 percent compared to this time period last year,
according to statistics compiled by F.C. Tucker Company.
On a monthly basis, March 2013 pended home sales rose 1.2 percent over March 2012, an
increase of 30 homes sold in the nine counties that F.C. Tucker tracks. Five of the nine
counties reported increased sales compared to March 2012.
“The first quarter of the year is off to a strong start,” said Jim Litten, president of F.C. Tucker
Company. “Continued increases in home sales and home prices, and decreases in inventory
are positive signs that the Central Indiana real estate recovery is still on solid ground.”
In March, Johnson County saw the largest increase in pended home sales which spiked
23.4 percent, raising the number of pended home sales to 216 from 175 in March 2012.
Hancock and Madison counties also experienced increases of 16 and 6.6 percent over
March 2012, respectively. Boone County saw the biggest decline, decreasing 31 percent
from March of last year. Shelby and Hendricks counties also experienced decreases of 9.3
and 6.5 percent respectively.
Available homes for sale in the nine-county region dropped 16.9 percent in March 2013 with
10,790 homes on the market, 2,202 fewer than in March 2012. All nine Central Indiana
counties experienced varying inventory declines with Hamilton County experiencing the
greatest decrease in inventory at 22.7 percent. Morgan County’s inventory was the most
stable, down 6 percent.
Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 5.2
percent. Tucker’s data indicates that six counties experienced slightly higher home sales
prices than in March 2012. Year-to-date, Marion County led the way with a 9 percent
increase in home sales prices, while Hancock, Madison, Hamilton, Shelby and Morgan also
reported gains. Boone and Johnson counties saw the largest declines at 2.4 percent each.
Hendricks County also experienced a slight decrease. The average year-to-date sales price
for a home in the nine-county area was $146,896.
Of the pended home sales in the region last month, six were priced $1,000,000 to
$1,999,999; 55 were priced $500,000 to $999,999; 213 were priced $300,000 to $499,999;
343 were priced $200,000 to $299,999; 1,113 were priced $100,000 to $199,999 and 786
were priced at $99,999 or less.

By Sean McDonough,