Home Prices Continue to Rise

(photo courtesy of F.C. Tucker Co.)

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The average housing price in central Indiana increased again in July, according to new data from Indianapolis-based real estate firm F.C. Tucker Co. The rise comes despite a drop in the number of pended home sales, as well as the number of homes sitting on the market.

The realty company says home prices in the 16-county central Indiana region increased 13.2%. The average home price was $299,118. Tucker says Shelby County had the highest average home sale price increase at 28%

“As expected, the fast-moving residential real estate market has continued into the summer, fueled by mortgage interest rates that remain at all-time lows,” said Jim Litten, chief executive officer of F.C. Tucker Company. “Available housing inventory is increasing slightly, but the seller’s market will remain for the foreseeable future.”

Tucker says the number of pending home sales dropped 4.6% compared to the same period a year ago. The company says available housing inventory decreased 26% compared to July 2020.

Tucker says homes sold, on average, in 20 days, which is 47% faster than last year.