March home prices continue to increase, sales see slight decrease

INDIANAPOLIS, Ind. (Inside INdiana Business) – According to F.C. Tucker Co.’s March real estate reporting, the central Indiana real estate market remains strong but quiet. The company’s statistics reveal that home sales experienced a slight dip in March while home prices continued to see an increase. The company says inventory continues to decrease.

In March, the average home sale price for the 16-county region was $239,714, an increase of 9.8%. F.C. Tucker says the year-to-date average home sale price also increased, by 8.8%, to $229,889.

Jim Litten, chief executive officer of F.C. Tucker said, “Despite the financial uncertainties brought about by the COVID-19 pandemic, the Central Indiana real estate market remained active in March. Inventory continues to remain low, prompting a continued increase in home sale prices.”

Compared to this time last year, inventory decreased by 9.9%. 3,540 homes were purchased, down 3.5% from the 3,668 sold in March 2019.

Year-to-date home sale prices increased, and homes also left the market more quickly compared to this time last year.