March Home Prices Increase, Sales See Slight Decrease

(photo courtesy of F.C. Tucker Co.)

According to F.C. Tucker Co.’s March real estate reporting, the central Indiana real estate market remains strong, but quiet. The company’s statistics reveal that home sales experienced a slight dip in March while home prices continued to rise. The company says inventory continues to decrease.

In March, the average home sale price for the 16-county region was $239,714, an increase of 9.8%. F.C. Tucker says the year-to-date average home sale price also increased, by 8.8%, to $229,889.

Jim Litten, chief executive officer of F.C. Tucker said, “Despite the financial uncertainties brought about by the COVID-19 pandemic, the Central Indiana real estate market remained active in March. Inventory continues to remain low, prompting a continued increase in home sale prices.”

Compared to this time last year, inventory decreased by 9.9%. 3,540 homes were purchased, down 3.5% from the 3,668 sold in March 2019.

Year-to-date home sale prices increased, and homes also left the market more quickly compared to this time last year.