Putnam County home sales and inventory up, prices down in August

The average home sale price decreased 25.8 percent to $195,659, compared to August of last year.

In August, Putnam County’s residential real estate market saw a level of activity it hasn’t seen in a few months, with sales and inventory both increasing while prices decreased.

In numbers released by FC Tucker, specifically in Putnam County in August:

• Pended home sales increased 43.2 percent compared to this time last year.
• Available inventory increased 96.2 percent compared to last year.
• The average home sale price decreased 25.8 percent to $195,659, compared to August of last year.

For the first time in the last six months, central Indiana saw an increase in pended home sales in August. The increase in sales, coupled with greater available inventory and homes selling quickly, created a robust residential real estate market to end the summer. According to F.C. Tucker Company, part of the Howard Hanna family of companies:

• Pended home sales increased 3.7 compared to this time last year.
• Homes sold two days, or 6.1 percent, faster than this time last year.
• Available housing inventory increased 24.9 percent compared to August 2023.
• Compared to August 2023, the average home sale price for the 16-county central Indiana region increased 23.3 percent to $360,000. Year-to-date 2024 home sale prices increased 4 percent. 

In August 2024, 3,057 central Indiana homes were purchased, up 3.7 percent from the 2,947 sold in August 2023.

• Jennings County had the greatest increase in pended home sales in August 2024, up 63.2 percent compared to this time last year.
• Montgomery County pended sales had the greatest decrease, with 18.5 percent fewer homes sold compared to August 2023. 

Central Indiana year-to-date home sale prices increased 4 percent overall. However, all 16 counties in central Indiana experienced price decreases in August 2024.