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No easing in central Indiana housing market

(photo courtesy: IIB/Wes Mills)

INDIANAPOLIS (Inside INdiana Business) — A monthly measurement of home sales, conducted by Indianapolis-based F.C. Tucker Co., shows the central Indiana housing market remains robust and more expensive. The real estate company says year-to-date prices have increased 12.5%.

The higher prices could be in response to smaller supply. Tucker says the number of available homes for sale dropped nearly 19% compared to September 2020. The company says decrease represents 683 fewer homes available for sale than in September 2020.

“Inventory continued to decline in most central Indiana counties, creating a fast-moving residential real estate market during the month of September,” said Jim Litten, chief executive officer of F.C. Tucker Co. “The robust seller’s market also resulted in home sale price increases in the double digits for yet another month.”

Litten says homes sold, on average, in 19 days. Tucker says Hamilton County inventory is down nearly 51% compared to this time last year, which is the greatest decrease in 16 central Indiana counties.

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