June 15—INDIANAPOLIS — Inventory continued to increase in May and homes sold quickly throughout the central Indiana area, according to FC Tucker Company.
The available housing stock has increased by 26.2 percent compared to May 2023.
Homes sold nine days, or 18.4 percent, faster than this time last year.
Compared to May 2023, the median home sale price in Indiana’s 16-county central region increased 2.9 percent to $360,893.
Pending home sales are down slightly, by 3.4 percent, compared to this time last year.
In May 2024, 3,161 homes were purchased in central Indiana, a decrease of 3.4 percent from the 3,271 homes sold in May 2023.
—Morgan County saw the largest increase in pending home sales in May 2024, up 31.1 percent from this time last year.
—Pending sales in Boone County saw the largest decline, with 23.8 percent fewer homes sold compared to May 2023.
Home sales prices in Central Indiana rose 4.3 percent overall.
—Shelby County recorded the highest average increase in home sales prices to date, at 17.8 percent.
—Boone County had the highest median home sales price in the region to date at $517,211.
– Homes are selling within 40 days on average, nine days, or 18.4 percent, faster than May 2023. Homes in Boone County are selling 54.3 percent faster than this time last year, the largest increase in central Indiana.
Central Indiana experienced a 26.2 percent increase in total available housing inventory in May 2024, compared to May 2023, with 801 additional homes for sale.
—Jennings County had the largest increase in inventory, up 112.5 percent compared to May 2023.
Decatur County saw the largest inventory drop, down 21.6 percent compared to this time last year.
“The warmer weather in May, along with an increase in available housing inventory, is contributing to a more active housing market,” said Jim Litten, president of FC Tucker Company. “Despite slight price increases, we are seeing homes being sold much faster than this time last year – a trend we expect to continue in the summer months.”
Of the pending home sales in the region last month, nine were priced at $2,000,000 or higher; 59 were priced from $1,000,000 to $1,999,999; 387 were priced from $500,000 to $999,999; 1,126 were priced from $300,000 to $499,999; 909 were priced from $200,000 to $299,999; 573 were priced from $100,000 to $199,999; and 98 were priced at $99,999 or less. — Information provided
