Housing market strong in the northern ‘burbs

Home-sale agreements and average sale prices continue to climb in central Indiana, signaling a real estate revival in the works.

Pended sales in Hamilton County were up 24 percent for the first six months of the year, according to data released Friday by Indianapolis-based real estate agency F.C. Tucker Co. Purchase agreements were up 16 percent in Boone County in the same period.

To no surprise, available inventory is moving in the opposite direction. Hamilton County active listings in June were down 25 percent, to 1,967—the biggest drop in the nine-county area—and 14 percent in Boone County, to 496.

“Increases in home sales and home prices, and decreases in inventory are positive signs that the central Indiana real estate recovery continues to move in a positive direction,” F.C. Tucker President Jim Litten said in a prepared statement.

For the whole nine-county area, year-to-date sales were up 20 percent at the end of June. Region-wide inventory declined 16 percent.
 
Average home-sale prices in Boone and Hamilton counties were well above the central Indiana average of $161,068 in June. Boone County had the highest average price: $254,607. Hamilton was next at $244,298.