The Jackson County housing market continued its move toward more normal levels during May as the county experienced a decline in inventory and slowing price increases.

According to reports from F.C. Tucker, Jackson County experienced the largest decrease in the area in inventory compared to May of last year. Active listings fell from 41 in May 2022 to 23 listings in May of this year, a 43.9% decrease.

Surrounding counties also experienced a decrease in housing inventory compared to May a year ago.

Bartholomew County saw a 4.3% decrease in active listings from 94 listing in May 2022 to 90 in the same month this year, and Jennings County experienced a slight decrease from 20 active listings in May 2022 to 16 in May 2023, a 20% decrease.

Jackson County saw a slight decrease in pending home sales with a 16.1% decrease. Pending home sales decreased by 10, going from 51 pending home sales in May 2022 to 41 in May 2023.

Surrounding counties also saw slight decreases in pending home sales.

Bartholomew County saw a 28.8% decrease from 162 pending sales in 2022 to 107 pending sales in 2023, while Jennings County experienced a 26.5% decrease from 22 pending sales in 2022 to 20 pending sales in 2023.

As average sale prices continue to increase, it has been at a slower pace across Jackson and other surrounding counties.

Jackson County saw a 12% increase in average sale price. The average sale price increased from $202,622 in May 2022 to $226,948 in May 2023.

Bartholomew County experienced a slight increase of 5.6%. The sale price increased from $266,904 in 2022 to $281,899 in 2023.

Jennings County saw an even smaller increase of 2.5%. The sale price increased from $178,878 in 2022 to $183,273 in 2023.

While the county housing market continues on a normal trend, the statewide housing market tells a different story.

According to a news release from the Indiana Association of Realtors, statewide home sales are showing modest gains during the month of May as new listings begin to catch up with homebuyer demand.

Existing homes continue to sell quickly as the statewide medium sale price rose to $255,000 with more sellers entering the market ahead of the summer buying season.

While the Indiana housing market continues to face long-term residential inventory challenges this spring, May’s increase in new listings is considered a positive sign, according to the Indiana Association of Realtors.