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INDIANAPOLIS – With 2,036 pended sales in February in Central Indiana, overall year-to-date home sales are up 8.3 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.
On a monthly basis, February 2015 pended home sales rose 2.7 percent compared to February 2014, an increase of 53 homes sold in the nine counties that F.C. Tucker tracks. Six of the nine counties reported increased sales compared to February 2014.
In February, Shelby County saw the largest increase in pended home sales which spiked 33.3 percent, raising the number of pended home sales to 48 from 36 in February 2014. Madison and Marion counties experienced increases of 17.3 and 7.3 percent over February 2014 respectively. Sales also rose in Morgan, Johnson and Hamilton counties. Hendricks County saw the biggest decline, decreasing 16.8 percent compared to February of last year. Hancock and Boone counties also experienced decreases – 12.9 and 8.1 percent.
“We’re excited to see the first quarter moving in a positive direction,” said Jim Litten, president of F.C. Tucker Company. “As we head toward the spring selling months, we’re optimistic that modest sales gains will continue across most of Central Indiana.”
Available homes for sale in the nine-county region increased 0.7 percent in February 2015 with 9,294 homes on the market, 65 more than in February 2014. Four Central Indiana counties experienced varying inventory increases with Marion and Morgan counties rising 4.7 and 2.5 percent, respectively. Hamilton and Hancock counties also experienced increases, while Hendricks County remained unchanged. Madison County experienced the greatest decrease in inventory to 575 homes from 678 homes in February 2014, a reduction of 15.2 percent. Shelby, Boone and Johnson counties also saw declines
Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 5.2 percent. Tucker’s data indicates that six counties experienced slightly higher home sales prices than in February 2014. Year to date, Shelby County led the way with 30.9 percent. Madison and Hendricks counties also saw increases of 25.1 and 11.2 percent, while Marion, Johnson and Hamilton counties saw slightly smaller gains. Boone County experienced a decrease of 9.4 percent. Sales prices also declined in Morgan and Hancock counties. The average year-to-date sales price for a home in the nine-county area was $166,283.
Of the pended home sales in the region last month, six were priced $1,000,000 to $1,999,999; 47 were priced $500,000 to $999,999; 171 were priced $300,000 to $499,999; 291 were priced $200,000 to 299,999; 951 were priced $100,000 to $199,999 and 570 were priced at $99,999 or less.
Editor’s Note: All statistics were compiled by F.C. Tucker Company from a report drawn from Propertylinx statistics on March 9, 2014. Pending means the sales contract has been signed, but the transaction has not closed. According to the NAR, pending sales typically are finalized within a month or two of signing.