Commentary by Jim Litten
More than 2,100 homes pended in October, with three Central Indiana counties reporting increased sales compared to the same time period last year, according to statistics compiled by F.C. Tucker Company. Overall, October 2014 pended home sales rose 0.1 percent to 2,172 over October 2013, a modest increase of two homes sold in the nine counties that F.C. Tucker tracks. Year-to-date, 24,972 homes pended, a decline of 1,286 homes compared to the same time period in 2013.
In the nine counties that F.C. Tucker tracks, homes sold for an average of $176,703 year-to-date, an increase of 6.5 percent compared to the same time period last year. Hamilton County was among the areas that experienced slightly higher home sale prices. On average, prices rose to $267,436 from $252,235 compared to the same time period last year.
- In Fishers, the average year-to-date sale price in October was $254,213, an increase of 6.1 percent compared to the same time period last year.
- Inventory is moving fast. Last month, homes in Fishers remained on the market an average of 64 days, a decrease of five days from October 2013.
- The number of homes for sale in Fishers has risen slightly. In October 2014, 630 homes were on the market, an increase of 34 homes in October 2013.
- Pended home sales experienced a decrease in Fishers. Last month, 143 homes pended, a decrease of 12 homes from October 2013.
- Of the pended home sales in Fishers last month, two were priced $1,000,000 to $1,999,999; three were priced $500,000 to $999,999; 24 were priced $300,000 to $499,999; 44 were priced $200,000 to $299,999; 69 were priced $100,000 to $199,999; and one was priced at $99,999 or less.
Home sales are comparable to this time last year. Though the increase was modest, we remain encouraged by positive sales and higher home prices – characteristics of our ongoing market stabilization.
