The Jackson County housing market moderated during the month of August with inventory decreasing and home sale prices increasing compared to this time last year, according to a report from F.C. Tucker.

Pending homes sales in Jackson County fell 19.6% compared to last year, going from 51 pending sales in August 2022 to 41 this year.

Bartholomew County experienced the largest decrease in pending home sales at 34.3%, going from 137 pending sales in 2022 to 90 in 2023. Jennings County also saw a slight decline with a 20.8% decrease compared to this time last year, going from 24 pending sales to 19.

Active listings within the county saw a 32.7% decrease compared to this time last year as housing inventory continues to decline. Housing inventory in the county went from 49 active listings in August 2022 to 33 in 2023.

Bartholomew County also saw a decrease, going from 129 active listings in 2022 to 99 in 2023, a 23.3% decrease. Jennings County also saw a slight decline in housing inventory with a 22.6% decrease, going from 31 active listings in 2022 to 24 in 2023.

While pending sales and active listings decreased, average sale prices continue to rise. Jackson County saw a 7.1% increase in average sale price compared to this time last year. Going from $210,234 in August 2022 to $225,088 in 2023, there was a $14,854 increase in the average sale price.

Bartholomew County also saw a slight increase in the average sale price of a home, going up 4.3% compared to this time last year. The average sale price in 2022 was $283,741 and increased to $295,957, which is a $12,216 increase.

Jennings County also saw a very minor increase as little as 0.5%, going from $191,558 in 2022 to $192,434 in 2023.

Millman Realty Partners said in a recent post regarding the Indiana real estate market outlook that Indiana real estate has been impacted by limited inventory contributing to affordability challenges along with higher mortgage rates.