Commentary by Jim Litten
F.C. Tucker Company reports central Indiana home sales are up 6.9 percent year to date, compared to the same time period last year. On a monthly basis, November’s pended home sales in the nine-county region declined 9.6 percent overall. This dip was most noticeable in counties to the north than counties to the south; however, available inventory in the region was also down 6.2 percent compared to last year.
Hamilton County saw an 11.3 percent decline in inventory while the average year-to-date sale price for the county climbed 3.4 percent to $277,124.
- In Noblesville, the average year-to-date home sale price rose 4.1 percent compared to this time last year, increasing to $230,642.
- Inventory moved at a slightly faster pace in Noblesville in November 2015. Overall, homes sold in 60 days – six fewer days than this time last year.
- Buyers in Noblesville had 320 homes available for sale last month, which is five fewer homes available than in November 2014.
- Pended home sales have slipped in Noblesville. In November 2015, 83 homes sold – a decline of three homes compared to November 2014.
- Of the pended home sales in Noblesville last month, 10 were priced $300,000 to $499,999; 24 were priced $200,000 to $299,999; 44 were priced $100,000 to $199,999; and five were priced at $99,999 or less.
Five years ago at this time, central Indiana’s pended home sales were down more than 10 percent for the year, and the average home sale price was $150,130. Now, we’re closing in on 30,000 homes sold year to date, instead of the approximately 20,000 homes in 2010, and prices are nearly $35,000 higher.