Hamilton County home sale prices reach average of $428K
February 2022 has proven to be an even stronger month for residential real estate than this time last year, with increases in home prices and sales. Monthly real estate statistics from F.C. Tucker Company revealed that February 2022 pended home sales increased 6.9 percent compared to February 2021, while year-to-date home sale prices increased 13.3 percent. Central Indiana housing inventory decreased 8.1 percent compared to this time last year.
- The average February home sale price for the 16-county central Indiana region was $287,752, an increase of 12.7 percent compared to February 2021.
- Pended home sales increased, up 6.9 percent compared to this time last year.
- Available housing inventory decreased, down 8.1 percent compared to February 2021.
In February 2022, 2,900 central Indiana homes were purchased, up 6.9 percent from the 2,714 sold in February 2021. Specifically:
- Jennings County showed the greatest increase in pended home sales with 118.2 percent growth compared to February 2021.
- Madison County pended sales had the greatest decrease with 12.2 percent fewer homes sold in February 2022 compared to this time last year.
The year-to-date sale price of homes in central Indiana continued their upward climb:
- Decatur County recorded the highest average year-to-date home sale price increase at 44.8 percent.
- Hamilton Countyhad the highest average home sale price in the region at $428,292.
- Homes sold in 23 days on average, 23.3 percent faster than in 2021. Bartholomew County homes left the market 20 days, or 51.3 percent, faster than in 2021 – the greatest decrease of the 16-county central Indiana area.
Central Indiana experienced an 8.1 percent decrease in overall available home inventory in February 2022, with 146 fewer homes available for sale than in February 2021. Four counties saw inventory decreases in February 2022, while 12 counties saw increases.
- Morgan County had the largest inventory increase – up 124.5 percent compared to February 2021.
- Hamilton County inventory continued to experience the greatest decrease in central Indiana – down 51.4 percent – compared to this time last year.
“The market is continuing to heat up,” said Jim Litten, CEO of F.C. Tucker Company. “Although we saw a slight decrease in inventory this past month, I do believe the overall central Indiana residential real estate market suggests that we will continue to see the trend of strong buyer demand as we move through 2022 and inventory becomes more readily available.”
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; 240 were priced $500,000 to $999,999; 837 were priced $300,000 to $499,999; 870 were priced $200,000 to $299,999; 725 were priced $100,000 to $199,999; and 195 were priced at $99,999 or less.