According to an F.C. Tucker report, Jackson County’s real estate market in February was fast moving with sales, prices and house inventory on the upswing.
The report stated that pended home sales in Jackson County increased 15.8% compared to February 2022. Average sale price for a Jackson County home increased up to 19.6% to $214,598, and available inventory increased 9.4%.
Jackson County went from an average of 38 pended home sales in February 2022 to 44 pended home sales in February 2023. The active listings of homes in Jackson County made a slight increase with inventory going from 32 to 35 in a year. In February 2022, the average sale price for a home in Jackson County went from $179,440 to $214,598, which is a $35,158 increase.
However, the surrounding counties, Jennings and Bartholomew, saw fluctuation in February.
Jennings County pended home sales had the greatest decrease with 37.5% fewer homes sold in 2023 compared to 2022.
Active listings of Jennings County went from 20 to 15 in a year difference, causing a 25% decrease.
However, the average sale price for a home in Jennings County increased from $161,184 to $186,088, which is a $24,904 increase.
The average pended home sales for Bartholomew County in the past year decreased from 104 to 78 homes, causing a 25% decrease.
Active listings for homes in Bartholomew County increased from 70 to 93 homes, which is a 32.9% increase.
The average sale price for a home in Bartholomew County made a slight increase from $254,169 to $274,624, which is a $20,455 increase.
Millman Realty Partners in Seymour released a report from the Indiana Association of Realtors that indicates even though sales were down in January 2023 compared to January 2022, the inventory is gradually increasing, which is good for home buyers. According to the report, homes have been selling at a slower pace, which is a sign of gradually moving to a more stable market.
The report stated the value of homes is still increasing with the biggest jump in 2020. As things still change with higher interest rates, lending institutions may likely adjust their offering to attract buyers to work with them.