Central Indiana home sales up more than 17 percent in January

Nearly 1,900 homes pended in January, with all but one Central Indiana county reporting increased sales compared to the same time period last year, according to statistics compiled by F.C. Tucker Company. Overall, January 2013 pended home sales rose 17.2 percent over January 2012, an increase of 278 homes sold in the nine counties that F.C. Tucker tracks.

In January, Morgan County saw the largest increase in pended home sales which spiked 87.8 percent, raising the number of pended home sales to 77 from 41 in January 2012. Shelby and Madison counties also experienced increases of 68.8 and 47.7 percent over January 2012, respectively. Only Boone County saw a decline, down 10.2 percent.

Available homes for sale in the nine-county region dropped 16 percent in January 2013 with 10,175 homes on the market, 1,931 fewer than in January 2012. All nine Central Indiana counties experienced varying inventory declines with Hamilton County experiencing the greatest decrease in inventory at 19.6 percent.

“The market is slowly trending up, both nationally and here in Central Indiana,” said Jim Litten, president of F.C. Tucker Company.  “We anticipate prices will continue to creep up as investors and first-time homebuyers compete for bargain-priced homes.”

Overall, sales prices for the nine-county Central Indiana area increased by 5.2 percent. Tucker’s data indicates that four counties experienced slightly higher home sales prices than in January 2012. Year-to-date, Marion County led the way with a 12.1 percent increase in home sales prices, while Boone, Madison and Morgan counties also reported gains. Hendricks County saw the largest decline at 12.6 percent. Shelby, Hancock, Hamilton and Johnson counties also experienced decreases. The average year-to-date sales price for a home in the nine-county area was $142,985.

Of the pended home sales in the region last month, one was priced more than  $2,000,000; four were priced $1,000,000 to $1,999,999; 27 were priced $500,000 to $999,999; 121 were priced $300,000 to $499,999; 215 were priced $200,000 to $299,999; 731 were priced $100,000 to $199,999 and 793 were priced at $99,999 or less.

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