With central Indiana year-to-date home sale prices up 7.4 percent overall, Brown County recorded the highest average year-to-date home sale price increase at 16.5 percent.
That was the highlight of the report from the F.C. Tucker company as they said consistency was the main word for September’s residential real estate market. Year-to-date home sale prices continued to increase slightly, and inventory decreased by less than a percent throughout the 16-county central Indiana area.
Available housing inventory decreased 0.5 percent compared to September 2022.
Pended home sales decreased, down 16.8 percent compared to this time last year.
The average September 2023 home sale price for the 16-county central Indiana region was $289,650, a decrease of 9.4 percent compared to September 2022.
In September 2023, 2,605 central Indiana homes were purchased, down 16.8 percent from the 3,132 sold in September 2022. Jennings County had the greatest increase in pended home sales in September 2023, up 110 percent compared to this time last year.
Jackson County pended sales had the greatest decrease with 51.1 percent fewer homes sold in September 2023 compared to September 2022.
Hamilton County had the highest average year-to-date home sale price in the region at $506,826.
Homes sold in 22 days on average, remaining on the market four days, or 22.2 percent, longer than in 2022. All homes in central Indiana remained on the market longer than in September 2022 except Decatur County, which saw homes selling 11.4 percent faster than this time last year.
Central Indiana experienced a 0.5 percent decrease in overall available home inventory in September 2023, compared to September 2022, with 24 fewer homes available for sale. Morgan County had the largest inventory increase – up 21.1 percent compared to September 2022.
Hancock County experienced the largest decrease in inventory – down 38.1 percent compared to this time last year.
“We generally see the market moderate during the fall months; however, central Indiana’s housing market continues to be strong with homes selling at about the same pace as this time last year,” said Jim Litten, president of F.C. Tucker Company. “While overall inventory is down slightly, almost half of central Indiana’s counties actually saw inventory increases during September, giving buyers more options to find a home that meets their family’s needs.”
Of the pended home sales in the region last month, nine were priced $2,000,000 or higher; 45 were priced $1,000,000 to $1,999,999; 288 were priced $500,000 to $999,999; 802 were priced $300,000 to $499,999; 795 were priced $200,000 to $299,999; 542 were priced $100,000 to $199,999; and 124 were priced at $99,999 or less.
