Dec. 16 – November home sales rose for the fourth straight month, coupled with another increase in available housing inventory, marking an unusually active housing market in central Indiana in November.
According to FC Tucker Company:
Pending home sales rose 11.3 percent compared to this time last year.
The available housing stock has increased by 6 percent compared to November 2023.
Homes were on the market nine days, or 34.6 percent, longer than this time last year.
Compared to November 2023, the median home sale price in the 16-county central Indiana region increased 20.7 percent to $350,074. House sales prices will rise by 3.5 percent in 2024.
In November 2024, 2,345 homes were purchased in central Indiana, an increase of 11.3 percent from the 2,107 homes sold in November 2023.
Hancock County saw the largest increase in pending home sales in November 2024, up 68.7 percent from this time last year.
Pending sales in Decatur County saw the largest decline, with 45.5 percent fewer homes sold compared to November 2023.
Home sales prices in Central Indiana rose 3.5 percent overall.
Boone County recorded the highest average price decline of the year so far, down 5.4 percent.
Hamilton County had the highest median home sales price in the region to date at $522,002.
Homes sold within 35 days on average, leaving them on the market nine days, or 34.6 percent, longer than in November 2023. Homes in Jackson County sold 35.7 percent faster than this time last year, the largest increase in central Indiana.
Central Indiana experienced a 6 percent increase in total available housing inventory in November 2024, compared to November 2023, with 291 additional homes for sale.
Putnam County had the largest increase in inventory, up 74.1 percent compared to November 2023.
Hancock County had the largest inventory drop, down 42.1 percent compared to this time last year.
“November continues the unusually active residential real estate market in Central Indiana, with sales rising in the double digits while inventory continues to rise,” said Jim Litten, president of FC Tucker Company. “Interest rates and home prices are also stabilizing, creating a more attractive market for potential home buyers.”
Of the pending home sales in the region last month, 10 were priced at $2,000,000 or higher; 37 were priced from $1,000,000 to $1,999,999; 297 were priced from $500,000 to $999,999; 796 were priced from $300,000 to $499,999; 702 were priced from $200,000 to $299,999; 438 were priced from $100,000 to $199,999; and 65 were priced at $99,999 or less.
Information provided — Information provided
