December 2021 bucked the typical trend of a quieter residential real estate market during the holidays. Monthly real estate statistics from F.C. Tucker Company revealed that December 2021 pended home sales increased 4.4 percent compared to December 2020. Year-to-date home sale prices increased 12.6 percent, and central Indiana housing inventory decreased 19.4 percent compared to this time last year.
- The average December 2021 home sale price for the 16-county central Indiana region was $293,407, an increase of 15.3 percent compared to December 2020.
- Pended home sales increased, up 4.4 percent compared to this time last year.
- Available housing inventory continued to decrease, down 19.4 percent compared to December 2020.
In December 2021, 2,710 central Indiana homes were purchased, up 4.4 percent from the 2,595 sold in December 2020. Specifically:
- Brown County showed the greatest increase in pended home sales with 200 percent growth compared to December 2020.
- Hamilton County pended sales had the greatest decrease with 11.6 percent fewer homes sold in December 2021 compared to this time last year.
The year-to-date sale price of homes in central Indiana continued their upward climb:
- Johnson County recorded the highest average year-to-date home sale price increase at 20.9 percent.
- Hamilton County had the highest average home sale price in the region at $420,016.
- Homes sold in 18 days on average, 43.8 percent faster than in 2020. Brown County homes left the market 28 days faster than in December 2020 – the greatest decrease of the 16-county central Indiana area.
Central Indiana experienced a 19.4 percent decrease in overall available home inventory in December 2021, with 511 fewer homes available for sale than in December 2020. However, only six counties continued to see inventory decreases in December, while nine counties saw increases, and one county remained the same.
- Brown County had the largest inventory increase – up 56.5 percent compared to December 2020.
- Hamilton County inventory continued to experience the greatest decrease in central Indiana – down 9 percent – compared to this time last year.
“It’s unusual to see this level of residential real estate activity during December,” said Jim Litten, CEO of F.C. Tucker Company. “However, many buyers are taking advantage of low interest rates and the growth in available inventory to purchase a new home. This additional buyer demand results in a continued increase in home sale prices.”
Of the pended home sales in the region last month, three were priced $2,000,000 or higher; 30 were priced $1,000,000 to $1,999,999; 186 were priced $500,000 to $999,999; 690 were priced $300,000 to $499,999; 816 were priced $200,000 to $299,999; 765 were priced $100,000 to $199,999; and 220 were priced at $99,999 or less.