Residential real estate market finished the year strong

Jan. 12—The residential real estate market in central Indiana finished 2024 on a strong note with most counties seeing an increase in sales and continued growth in available inventory.

According to F.C. Tucker Company:

Available housing inventory increased 16.8 percent compared to December 2023.

Homes spent only six days longer on the market than this time last year.

Pended home sales decreased 1 percent across all 16 counties, compared to this time last year.

Compared to December 2023, the average home sale price for the 16-county central Indiana region increased 12.3 percent to $363,190. Year-to-date 2024 home sale prices increased 4.2 percent to $348,225, compared to 2023.

In December 2024, 1,863 central Indiana homes were purchased, down 1 percent from the 1,882 sold in December 2023.

Jennings County had the greatest increase in pended home sales in December 2024, up 60 percent compared to this time last year.

Decatur County pended sales had the greatest decrease, with 43.8 percent fewer homes sold compared to December 2023.

Central Indiana year-to-date home sale prices increased 4.2 percent overall.

Brown County recorded the highest average year-to-date home sale price decrease, down 4.4 percent.

Hamilton County had the highest average year-to-date home sale price in the region at $525,313.

Homes sold in 36 days on average, spending six days, or 20 percent, longer on the market than December 2023. Bartholomew County homes sold 29.6 percent faster than this time last year, the greatest increase in central Indiana.

Central Indiana experienced a 16.8 percent increase in overall available home inventory in December 2024, compared to December 2023, with 672 more homes available for sale.

Decatur County had the largest inventory increase — up 59.4 percent compared to December 2023.

Boone County had the greatest decrease in inventory — down 16.5 percent compared to this time last year.

"Central Indiana's residential real estate market finished the year strong with the most robust December we've seen in the past three years," said Jim Litten, president of F.C. Tucker Company. "Pended sales were down slightly overall, but the majority of central Indiana counties actually saw sales increases. Solid sales, combined with inventory increases and homes selling at about the same pace as last year, positions the market for a strong start to 2025."

Of the pended home sales in the region last month, five were priced $2,000,000 or higher; 20 were priced $1,000,000 to $1,999,999; 198 were priced $500,000 to $999,999; 648 were priced $300,000 to $499,999; 564 were priced $200,000 to $299,999; 363 were priced $100,000 to $199,999; and 65 were priced at $99,999 or less.

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