With 2,528 pended sales in March in Central Indiana, overall year-to-date home sales are up 7.7 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.
On a monthly basis, March 2015 pended home sales slipped 1.8 percent compared to March 2014, a decrease of 47 homes sold in the nine counties that F.C. Tucker tracks. Three of the nine counties reported increased sales compared to March 2014.
In March, Madison County saw the largest increase in pended home sales which spiked 27.4 percent, raising the number of pended home sales to 144 from 113 in March 2014. Boone County saw the biggest decline, decreasing 33.6 percent compared to March of last year.
As we move into the second quarter, we believe home sales will increase and prices will remain strong. Though March sales were a little sluggish, we still expect to see activity gradually pick up due, in part, to recent job growth and the start of the spring selling season.
Available homes for sale in the nine-county region decreased 0.9 percent in March 2015 with 9,868 homes on the market, 93 fewer than in March 2014. Eight Central Indiana counties experienced varying inventory declines with Madison and Johnson counties seeing the greatest decreases of 13.9 and 10.2 percent, respectively. Boone, Hamilton, Hancock, Hendricks, Morgan and Shelby counties also saw declines.
Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 5.4 percent. Boone County experienced a decrease of 3.7 percent. The average year-to-date sales price for a home in the nine-county area was $170,732.