Real estate experts say that it remains a seller’s market in Central Indiana, as the number of homes available for sale and mortgage rates remain low.
F.C. Tucker Company released its latest data for the 15-county region. Their reports says that October pended sales were up 4.4 percent compared to October 2015, while the average year-to-date home price also gained ground in October, increasing 2.9 percent for an average price of $187,867. The majority of October active listings included homes less than $200,000, although homes in the $200,000 to $300,000 range showed increased sales activity.
F.C. Tucker Company’s report says that as we end the near of the year, the residential real estate market shows signs of improvement. The company says that October marked the sixth straight month of increased home sales. Twelve of the 15 counties that F.C. Tucker tracks showed an improvement in sales.
In Bartholomew County, single family home sales in October of 2016 were down 3.6 percent compared to October of 2015. Brown County saw its sales drop by one-third over the same period, while Decatur County saw a 21.7 percent increase.
Active listings in Bartholomew County were up nine-percent in October compared to one-year ago. Jennings County saw a 58.1 percent increase in listings, while Brown County saw a 47.8 percent decrease during the same period.
The average sale price of homes in October of 2016, compared to October of 2015, saw a slight drop in Bartholomew County. According to F.C. Tucker’s report, the average sale price of a home in Bartholomew County dropped 1.3-percent to $194,332. Jennings County home prices say a 2.3 percent drop to $103,226 during the same period. The same report says that average home prices in Brown County were up 4.4 percent $186,815, while prices in Johnson County were up 6.1 percent to $185,039 in the same time-frame.