With 1,941 home sales in October in central Indiana, overall year-to-date home sales are up 16.2 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.
On a monthly basis, October 2013 home sales fell 11 percent compared to October 2012, a decrease of 240 homes sold in the nine counties that F.C. Tucker tracks.
In Boone County, however, October sales rose 2.7 percent compared to October 2012, and year-to-date sales are strong, up 15.8 percent.
Home sales in Zionsville saw improvement last month, up 14.7 percent compared to October 2012.
Inventory continues to tighten in Zionsville. Last month, 191 homes were on the market, down 22 homes from October of last year.
Homes in Zionsville are staying on the market for shorter periods of time – an average of 28 fewer days – compared to October 2012.
For the first 10 months of the year, the average sales price of homes in Zionsville decreased 3.9 percent from last year to $346,705.
Though a decrease in home sales is typical as the year begins coming to an end, consumers may also be hesitant to jump in as they cautiously watch the potential for increasing interest rates. Still, we expect prices to continue rising in many areas due to the smaller supply of homes across central Indiana – an encouraging sign of market stabilization.