Central Indiana’s residential real estate market continues to grow, according to statistics compiled by F.C. Tucker Company. Despite having 2,299 fewer homes on the market to choose from, pended home sales increased 4.4 percent from October 2015. The average sales price increased 2.9 percent to $187,867. In the 15-county region, only three counties had its average sales price decrease, with the highest at 2.3 percent.
Boone County’s pended sales increased 14.8 percent in October 2016 compared to October 2015. Prices have also increased by 7.9 percent over last year to an average of $292,808. The number of available homes for sale, however, continues to decline in the region; inventory in Boone County slid 19.2 percent in October, a drop of 82 homes available compared to this time last year.
• In Zionsville, the average year-to-date home sales price increased 8.9 percent to $406,387 – the highest average for the 15-county region.
• Inventory moved at a faster pace in Zionsville in October 2016. Overall, homes sold in 68 days – 25 fewer days than this time last year.
• Buyers in Zionsville had fewer homes available to them. Last month, 174 homes were available for sale – nine fewer homes compared to October 2015.
• Pended home sales increased in Zionsville. In October 2016, 25 homes sold – an increase of four homes compared to October 2015.
• Of the pended home sales in Zionsville last month, seven were priced $500,000 to $999,999; eight were priced $300,000 to $499,999; seven were priced $200,000 to $299,999; and three were priced $100,000 to $199,999.
Attractive pricing and financing options have contributed to steady sales month over month. We’re optimistic about the future and don’t anticipate significant changes in either of those areas under a new administration.