INDIANAPOLIS – The housing market in central Indiana continues to heat up, according to monthly statistics from F.C. Tucker Company. October 2017 pended sales climbed 14.9 percent compared to October 2016, the highest increase so far this year in the 15-county area. Meanwhile, the average year-to-date home price for the region rose 6 percent to $199,193, according to a news release.
As the number of houses available for sale continued to decline, home-buyers purchased them rapidly; 2,690 homes were purchased in central Indiana in October, an increase from 2,341 sold in October 2016. In Hancock County, 102 homes were available for sale in October 2017, compared to 78 at the same time last year, according to a news release.
Many of the counties F.C. Tucker tracks experienced an increase in sales.
In keeping with the previous month’s trends, homes sold more quickly and for more money in October, signaling that it’s still a strong seller’s market. All but one of the 15 counties that F.C. Tucker tracks showed an uptick in average year-to-date home prices.
Homes sold in 60 days on average – and 11 days quicker – for the first 10 months of 2017 compared to the same time period last year. Johnson County’s homes continue to be the fastest-selling in the market at 54 days, but Hendricks, Hancock and Marion counties came in close behind with homes selling in 55, 56 and 57 days, respectively.
Listings dropped by 17 percent. In October 2017, inventory stood at 8,050 homes, a decrease of 1,651 compared to October 2016.
“October brought our highest sales period this year with a staggering 14.9 percent increase,” said Jim Litten, CEO of F.C. Tucker Company. “The housing market continues to offer sellers less competition and buyers a variety of price points for their new home across central Indiana.”