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Central Indiana home sales up nearly 8 percent year to date Prices increase more than 5 percent; seven counties show rise in average sale price INDIANAPOLIS – With 2,528 pended sales in March in Central Indiana, overall year-to-date home sales are up 7.7 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company. On a monthly basis, March 2015 pended home sales slipped 1.8 percent compared to March 2014, a decrease of 47 homes sold in the nine counties that F.C. Tucker tracks. Three of the nine counties reported increased sales compared to March 2014. In March, Madison County saw the largest increase in pended home sales which spiked 27.4 percent, raising the number of pended home sales to 144 from 113 in March 2014. Shelby and Johnson counties experienced increases of 9.1 and 5.9 percent, respectively, over March 2014. Boone County saw the biggest decline, decreasing 33.6 percent compared to March of last year. Hancock, Hendricks, Morgan, Madison, Marion and Hamilton counties also experienced decreases. “As we move into the second quarter, we believe home sales will increase and prices will remain strong,” said Jim Litten, president of F.C. Tucker Company. “Though March sales were a little sluggish, we still expect to see activity gradually pick up due, in part, to recent job growth and the start of the spring selling season.” Available homes for sale in the nine-county region decreased 0.9 percent in March 2015 with 9,868 homes on the market, 93 fewer than in March 2014. Eight Central Indiana counties experienced varying inventory declines with Madison and Johnson counties seeing the greatest decreases of 13.9 and 10.2 percent, respectively. Boone, Hamilton, Hancock, Hendricks, Morgan and Shelby counties also saw declines. Inventory in Marion County increased by 4.4 percent. Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 5.4 percent. Tucker’s data indicates that seven counties experienced slightly higher home sales prices than in March 2014. Year to date, Shelby County led the way with a 16.9 percent increase in sales prices. Madison and Hendricks counties also saw increases of 13.8 and 10.2 percent, while Marion, Johnson, Hamilton and Morgan counties saw slightly smaller gains. Boone and Hancock counties experienced decreases of 3.7 and 1.5 percent, respectively. The average year-to-date sales price for a home in the nine-county area was $170,732. Of the pended home sales in the region last month, one was priced at $2,000,000 or more; seven were priced $1,000,000 to $1,999,999; 76 were priced $500,000 to $999,999; 277 were priced $300,000 to $499,999; 399 were priced $200,000 to 299,999; 1,114 were priced $100,000 to $199,999 and 654 were priced at $99,999 or less. Quick Links: Pended single-family and condominium home sales Active Listings – Inventory Average Sale Price Pended Single-family and Condominium Home Sales County Mar 2014 Mar 2015 Month-tomonth % Change Year-todate % Change Boone 113 75 -33.6% -12.9% Hamilton 578 572 -1.0% 7.9% Hancock 117 107 -8.5% -2.2% Hendricks 243 224 -7.8% -6.2% Johnson 205 217 5.9% 16.7% Madison 113 144 27.4% 22.1% Marion 1,075 1,059 -1.5% 9.9% Morgan 87 82 -5.7% 5.1% Shelby 44 48 9.1% 26.2% TOTAL 2,575 2,528 -1.8% 7.7% Active Listings – Inventory County Mar 2014 Mar 2015 % Change Boone 399 386 -3.3% Hamilton 1,721 1,711 -0.6% Hancock 420 389 -7.4% Hendricks 812 781 -3.8% Johnson 874 785 -10.2% Madison 675 581 -13.9% Marion 4,427 4,621 4.4% Morgan 408 401 -1.7% Shelby 225 213 -5.3% TOTAL 9,961 9,868 -0.9% Average Sales Price County YTD Mar 2014 YTD Mar 2015 % Change Boone $271,147 $261,220 -3.7% Hamilton $258,460 $269,917 4.4% Hancock $150,717 $148,511 -1.5% Hendricks $167,688 $184,866 10.2% Johnson $153,577 $164,575 7.2% Madison $70,560 $80,288 13.8% Marion $123,400 $132,610 7.5% Morgan $135,494 $136,821 1.0% Shelby $97,661 $114,157 16.9% Average Sales Price $162,029 $170,732 5.4% ### Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on April 8, 2015. Pending means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing. Pended Single-family and Condominium Home Sales in Select Additional Central Indiana Counties Mar 2014 Mar 2015 Month-tomonth % Change Year-todate % Change Bartholomew 72 91 26.4% 41.3% Brown 20 13 -35.0% -10.5% Henry 31 36 16.1% 41.2% 8 7 -12.5% 30.8% Montgomery 35 34 -2.9% 24.7% Putnam 36 39 8.3% 28.6% County Monroe Active Listings – Inventory in Select Additional Central Indiana Counties County Mar 2014 Mar 2015 % Change Bartholomew 293 271 -7.5% Brown 148 143 -3.4% Henry 179 186 3.9% Monroe 63 105 66.7% Montgomery 220 209 -5.0% Putnam 249 232 -6.8% Average Sales Price in Select Additional Central Indiana Counties YTD Mar 2014 YTD Mar 2015 % Change Bartholomew $185,890 $178,682 -3.9% Brown $138,833 $186,574 34.4% Henry $79,885 $75,200 -5.9% Monroe $172,535 $222,820 29.1% Montgomery $88,059 $89,842 2.0% Putnam $122,789 $132,139 7.6% County With approximately $3.4 billion in annual sales, F.C. Tucker Company is Indiana’s largest independently owned comprehensive real estate firm with more than 40 offices and more than 1,500 sales associates throughout Indiana and select markets in Kentucky. Less than one percent of all real estate firms have the longevity of F.C. Tucker. Founded in 1918, the company’s family of businesses includes a full range of real estate services—mortgages, title insurance, relocation services, a full line of insurance products, auctioning and homeowner warranty products. F.C. Tucker has earned a reputation for its exceptional service, experienced sales associates and “Golden Rule” commitment to its clients and employees.