Central Indiana home sales up nearly 17 percent year to date; up 14.2 percent for November

With 1,708 pended sales in November in Central Indiana, overall year-to-date home sales are up 16.9 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.

The increase marks the 19th consecutive monthly increase over the previous year’s existing home sales. November 2012 pended home sales rose 14.2 percent over November 2011, an increase of 213 homes sold in the nine counties that F.C. Tucker tracks. Eight of the nine counties reported increased sales compared to November 2011.

In November, Hendricks County saw the largest increase in pended home sales which spiked 64.2 percent, raising the number of pended home sales to 174 from 106 in November 2011. Madison and Morgan counties also experienced hefty increases of 55.7 and 44.7 percent, respectively, over November 2011. Only Johnson County saw a decline, decreasing 3.6 percent from November of last year.

“As the year comes to a close, we are encouraged by the direction of the housing market,” said Jim Litten, president of F.C. Tucker Company. “If the economy continues to improve, and the fiscal cliff situation is resolved, we expect continued positive momentum in the housing market in the coming months.”

Available homes for sale in the nine-county region dropped 17.3 percent in November 2012 with 11,096 homes on the market, 2,327 fewer than in November 2011. Nine Central Indiana counties experienced varying inventory declines with Hamilton County experiencing the greatest decrease in inventory at 23.1 percent.

Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 2.1 percent. Tucker’s data indicates that seven counties experienced slightly higher home sales prices than in November 2011. Year-to-date, Morgan County led the way with a 13.6 percent increase in home sales prices, while Boone, Hendricks, Johnson, Madison, Marion, Morgan and Shelby counties also saw an uptick in prices. Hamilton and Hancock counties experienced declines – down 3.2 and 0.1 percent respectively. The average year-to-date sales price for a home in the nine-county area was $155,742.

Of the pended home sales in the region last month, one was priced $1,000,000 to $1,999,999; 36 were priced $500,000 to $999,999; 123 were priced $300,000 to $499,999; 198 were priced $200,000 to 299,999; 688 were priced $100,000 to $199,999 and 662 were priced at $99,999 or less.

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