Jun. 15—INDIANAPOLIS — Inventory continued to increase in May and homes sold quickly throughout the central Indiana area, according to F.C. Tucker Company.

Available housing inventory increased 26.2 percent compared to May 2023.

Homes sold nine days, or 18.4 percent, faster than this time last year.

Compared to May 2023, the average home sale price for the 16-county central Indiana region increased 2.9 percent to $360,893.

Pended home sales decreased slightly, down 3.4 percent compared to this time last year.

In May 2024, 3,161 central Indiana homes were purchased, down 3.4 percent from the 3,271 sold in May 2023.

—Morgan County had the greatest increase in pended home sales in May 2024, up 31.1 percent compared to this time last year.

—Boone County pended sales had the greatest decrease, with 23.8 percent fewer homes sold compared to May 2023.

Central Indiana year-to-date home sale prices increased, up 4.3 percent overall.

—Shelby County recorded the highest average year-to-date home sale price increase at 17.8 percent.

—Boone County had the highest average year-to-date home sale price in the region at $517,211.

—Homes sold in 40 days on average, selling nine days, or 18.4 percent, faster than May 2023. Boone County homes sold 54.3 percent faster than this time last year, the greatest increase in central Indiana.

Central Indiana experienced a 26.2 percent increase in overall available home inventory in May 2024, compared to May 2023, with 801 more homes available for sale.

—Jennings County had the largest inventory increase — up 112.5 percent compared to May 2023.

—Decatur County experienced the largest decrease in inventory — down 21.6 percent compared to this time last year.

“May’s warmer weather, together with an increase in available housing inventory, is helping to fuel a more active residential real estate market,” said Jim Litten, president of F.C. Tucker Company. “Despite slight price increases, we’re seeing homes sell much more quickly than this time last year — a trend we expect to continue into the summer months.”

Of the pended home sales in the region last month, nine were priced $2,000,000 or higher; 59 were priced $1,000,000 to $1,999,999; 387 were priced $500,000 to $999,999; 1,126 were priced $300,000 to $499,999; 909 were priced $200,000 to $299,999; 573 were priced $100,000 to $199,999; and 98 were priced at $99,999 or less. — Information provided