Hamilton County home sale prices reach average of $443K
March 2022 has proven to be an active month for residential real estate with increases in home prices, sales, and listings. Monthly real estate statistics from F.C. Tucker Company revealed that March 2022 pended home sales increased 2 percent compared to March 2021, while year-to-date home sale prices increased 2.1 percent. Central Indiana housing inventory increased 1.5 percent compared to this time last year.
- The average March home sale price for the 16-county central Indiana region was $303,561, an increase of 17.1 percent compared to March 2021.
- Pended home sales increased, up 2 percent compared to this time last year.
- Available housing inventory increased, up 1.5 percent compared to March 2021.
In March 2022, 3,862 central Indiana homes were purchased, up 2 percent from the 3,786 sold in March 2021. Specifically:
- Morgan County showed the greatest increase in pended home sales with 53.4 percent growth compared to March 2021.
- Jennings County pended sales had the greatest decrease with 20.8 percent fewer homes sold in March 2022 compared to this time last year.
The year-to-date sale price of homes in central Indiana continued its upward climb:
- Putnam County recorded the highest average year-to-date home sale price increase at 31.7 percent.
- Boone County had the highest average home sale price in the region at $443,682.
- Homes sold in 22 days on average, 24.1 percent faster than in 2021. Bartholomew County homes left the market 15 days, or 45.5 percent, faster than in 2021 – the greatest decrease of the 16-county central Indiana area.
Central Indiana experienced a 1.5 percent increase in overall available home inventory March 2022, with 26 more homes available for sale than in March 2021. Three counties saw inventory decreases in March 2022, while 12 counties saw increases and one county saw no change.
- Morgan County had the largest inventory increase – up 123.4 percent compared to March 2021.
- Jennings County inventory experienced the greatest decrease in central Indiana – down 26.1 percent – compared to this time last year.
“March experienced a steady seller’s market with increases in active listings, sales, and home prices,” said F.C. Tucker Company CEO Jim Litten. “Spring is typically when we expect to see an uptick in what we call the ‘busy season’ in residential real estate, so I don’t anticipate any downward trends in sales or home prices as we move into the next few months.”
Of the pended home sales in the region last month, one was priced $2,000,000 or higher; 50 were priced $1,000,000 to $1,999,999; 329 were priced $500,000 to $999,999; 1,197 were priced $300,000 to $499,999; 1,143 were priced $200,000 to $299,999; 919 were priced $100,000 to $199,999; and 223 were priced at $99,999 or less.