Central Indiana home sale prices drop as inventory eases

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Central Indiana home price increases have slowed as the available housing inventory fell 5.7% in June compared to the same period last year, according to F.C. Tucker Co.

The average home sale price last month was $316,590, a drop of 6.7% from June 2022. Hamilton County had the highest average year-to-date home sale price at $496,268.

Pended home sales total 3,259, which is a 20.7% decrease from 4,109 last year. Decatur County saw the greatest increase with a 33.3% jump in sales, while Jackson County had the inverse with a 27.1 drop-off.

“Home sale prices are returning to more normal levels, federal interest rates remain unchanged, and consumer confidence continues to improve,” F.C. Tucker President Jim Litten said in a news release. “These factors all contributed to an active central Indiana residential real estate market in June.”

There are 210 fewer homes for sale in June than last year, with Jennings County seeing the largest decrease in 62.5%. However, Johnson County had an increase of 26.9%.

Of pended home sales, prices were as follows:

• 11 were priced $2,000,000 or higher.
• 56 were priced $1,000,000 to $1,999,999.
• 403 were priced $500,000 to $999,999.
• 1,051 were priced $300,000 to $499,999.
• 928 were priced $200,000 to $299,999.
• 667 were priced $100,000 to $199,999.
• 143 were priced at $99,999 or less.