With average home prices reaching $161,191 in March 2014, home sales prices in central Indiana are up 6.1 percent compared to March 2013.
Eight of the nine counties that F.C. Tucker tracks experienced slightly higher home sales prices in the first three months of 2014 compared to the same time period last year. Hamilton County is among the areas seeing strong year-to-date average sales prices, up 10.9 percent to $255,747.
- In Fishers, prices continue to climb. For the first three months of 2014, the average price of a home was $249,318, a 14.2 percent increase compared to the same time period last year.
- Of the home sales in Fishers last month, one was priced $1 million to $2 million; four were priced $500,000 to $1 million; 26 were priced $300,000 to $499,999; 38 were priced $200,000 to $299,999; and 60 were priced $100,000 to $199,999.
- Though prices are up, sales declined. In March 2014, 129 homes sold in Fishers, a decrease of 104 homes compared to March 2013. Similarly, sales in Hamilton County fell 31.1 percent to 462 homes.
- The number of homes for sale in Fishers fell slightly. In March 2014, 508 homes were on the market, which is a decrease of 26 homes from March 2013.
- For the first three months of this year, homes in Fishers remained on the market an average of 77 days, 11 fewer days compared to the same time period last year.
Now that harsh winter conditions have finally lifted, we expect warmer weather will attract more potential buyers to open houses. As we move into the second quarter, we believe home sales will increase and prices will remain strong.