Column: Buyer demand remains strong

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According to statistics compiled by F.C. Tucker Company, August was the busiest month in 2016 for central Indiana’s real estate market so far. Compared to this time last year, pended sales grew more than 15 percent in August, and eight of the 14 counties Tucker tracks recorded double-digit percentage growth in sales. This growth helped raise overall year-to-date sales, which are now 6.3 percent ahead of this time last year.

Boone County’s pended sales jumped more than 46 percent in August 2016 compared to August 2015. Prices have also increased by 3.6 percent over last year to an average of $288,544. Low inventory continues to challenge the market, and Boone County reflected the 14-county average – a decline of approximately 19 percent – in available homes.

• In Zionsville, the average year-to-date home sales price increased 4.6 percent to $394,644.

• Inventory moved at a faster pace in Zionsville in August 2016. Overall, homes sold in 66 days – 11 fewer days than this time last year.

• Buyers in Zionsville had fewer options available to them. Last month, 178 homes were available for sale – 21 fewer homes compared to August 2015.

• Pended home sales increased in Zionsville. In August 2016, 52 homes sold – an increase of 23 homes compared to August 2015.

• Of the pended home sales in Zionsville last month, two were priced $1,000,000 to $1,999,999; 13 were priced $500,000 to $999,999; 18 were priced $300,000 to $499,999; 11 were priced $200,000 to $299,999; and eight were priced $100,000 to $199,999.

Realtors definitely felt the momentum in August. Buyer demand is still strong, and we could see stronger sales if inventory returns to the level it was two or three years ago. We expect 2016 to be our best year since the housing market began its recovery.




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