Central Indiana Real Estate Still a Seller’s Market
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Indianapolis-based F.C. Tucker Co. says central Indiana saw continued growth in the residential real estate market in March. Data from the real estate company’s monthly report shows a 2.1% increase in home sale prices last month, as well as a 1.5% increase in inventory compared to the same period last year.
The average home sale price for the 16-county central Indiana region was $303,561, an increase of more than 17% compared to March 2021.
“March experienced a steady seller’s market with increases in active listings, sales, and home prices,” said Jim Litten, chief executive officer of F.C. Tucker Co. “Spring is typically when we expect to see an uptick in what we call the ‘busy season’ in residential real estate, so I don’t anticipate any downward trends in sales or home prices as we move into the next few months.”
In March, 3,862 central Indiana homes were purchased, up 2% from March 2021. F.C. Tucker says pended home sales also increased compared to this time last year.
The company says on average, homes sold in 22 days, which is more than 24% faster than in 2021.
F.C. Tucker has 35 affiliate offices in Indiana, in addition to 13 Indianapolis-area offices.