Central Indiana home prices rise in May
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Indianapolis-based F.C. Tucker Co. says central Indiana continued to see an increase in home prices and housing inventory in May. Pended home sales in the 16-county region dropped 2.2% compared to the same month last year.
Tucker says the average home sale price in May was $332,405, marking a 14.4% increase over May 2021. Available housing inventory also increased 35.6%.
Within the region, 4,210 homes were purchased last month, down 2.2% compared to 4,303 sold in May of last year.
“Although home prices continued to rise in May, we saw a substantial increase in housing inventory compared to this time last year,” said Jim Litten, chief executive officer of F.C. Tucker. “As interest rates continue to creep during the summer months, I anticipate the housing inventory will become even more robust and we will start to see a return to a more balanced market.”
The company says year-to-date, central Indiana home sale prices have risen 13.4%. For the second year in a row, Decatur County saw the highest average year-to-date price increase at 31.4%.
F.C. Tucker has 35 affiliate offices in Indiana, in addition to 13 Indianapolis-area offices.