Home sales are down for the start of 2016, but prices are up.
Local home sales were down 6 percent for the month of March, and 3.5 percent for the first three months of the year, compared to the same time last year, according to a report from F.C. Tucker Co.
The same was true in counties across central Indiana, with home sales down in nearly every county in March. Home sales in central Indiana are up for the start of the year, the report said.
But the average price homes sold for last month was up 9 percent in Johnson County, which was significantly higher than the average increase in central Indiana of just under 3 percent. In Johnson County, the average sales price for homes last month was $180,304, up from $165,282 at the same time last year, the report said. By comparison, the average sales price in central Indiana was $176,245.
The amount of homes for sale was also down by nearly 20 percent, compared to the same time in 2015.
“It is a prime time to be a seller,” Jim Litten, Chief Executive Officer of F.C. Tucker Co. said in a news release. “Sellers do not have as much competition, as buyer options at all price levels — starter, trade-up and premium — are dropping, especially in the starter category. And, the pacing of sales continues to accelerate month over month.”
Here is a look at home sales last month:
County;March 2015;March 2016;Change
SOURCE: F.C. Tucker Co.