The number of home sales in central Indiana increased in March despite a continued drop in inventory. F.C. Tucker Co. says pended home sales rose 6.9.% last month, compared to the same month last year. The year-to-date average home price also increased 10.6% to $259,298.
The company says 3,786 homes were purchased in the 16-county region, up from 3,540 sold in March 2020. Of the counties tracked by F.C. Tucker, five saw decreases in home sales with Putnam County leading the way at 22.8%, followed by Boone County at 14.1%.
“Despite the dramatic decreases in inventory, home sales continued at a brisk pace in March,” said Jim Litten, chief executive officer of F.C. Tucker. “With spring and summer typically being a busy time for the residential real estate market, it will be interesting to see if this seller’s market continues its upward climb during the next few months.”
F.C. Tucker says the number of active listings dropped 61.1% in March to 1,711. Hendricks and Montgomery counties saw the biggest drops in active listings at 78.8% and 78%, respectively.
This weekend on Inside INdiana Business with Gerry Dick, real estate broker Greg Cooper will discuss Indiana’s red hot housing market and what’s driving prices and inventory.