INDIANAPOLIS (Inside INdiana Business) — The number of home sales in central Indiana increased for the first time in two months. F.C. Tucker Co. says pended home sales rose 2.8% in May, compared to the same month last year. The year-to-date average home price increased 8.1% to $235,918.
The company says 4,340 homes were purchased in the 16-county region last month, up from 4,221 sold in May 2019. Of the counties tracked by F.C. Tucker, four saw decreases in home sales with Shelby County leading the way at 15.9%, followed by Montgomery County at 9%.
“Despite the economic challenges of the last couple of months, the residential real estate market saw a remarkable rebound in May,” said Jim Litten, chief executive officer of F.C. Tucker Co. “With the steady re-opening of the city and state, we’re hopeful residents will feel more comfortable showing and selling their homes, opening up much-needed additional inventory for home buyers.”
F.C. Tucker says the number of active listings dropped 31% in May to 3,933. Decatur and Jennings counties saw the biggest drops in active listings at 61.9% and 45.5%, respectively.