Column: Homes sales down 3.5 percent

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Pended home sales are gaining momentum in Central Indiana. Although February 2016’s data shows pended sales were down 3.5 percent compared to this time last year, January 2016 sales had been down 9.5 percent. Available inventory continues to tighten across the region, while average sales prices grew modestly by 2.7 percent, now at $171,932.

In Boone County, the average sale price climbed 6 percent to $270,681. Two additional homes were for sale in February compared to last year, bringing the total to 359 homes.  However, pended sales in Boone County dipped 10.5 percent.

  • In Zionsville, the average year-to-date home sale price increased 6.2 percent compared to this time last year, now at $416,993.
  • Inventory moved at a slightly slower pace in Zionsville in February 2016. Overall, homes sold in 106 days – 19 more days than this time last year.
  • Buyers in Zionsville had more options available to them. Last month, 189 homes were available for sale – an increase of 11 homes compared to February 2015.
  • Pended home sales stayed flat in Zionsville. A total of 38 homes pended.
  • Of the pended home sales in Zionsville last month, eight were priced $500,000 to $999,999; 16 were priced $300,000 to $499,999; 11 were priced $200,000 to $299,999; and three were priced $100,000 to $199,999.

The Spring buying season will heat up the market, but the low level of inventory will keep demand in check. As this trend continues, it’s more apparent average sale prices will only continue to rise.

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Column: Homes sales down 3.5 percent

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Pended home sales are gaining momentum in Central Indiana. Although February 2016’s data shows pended sales were down 3.5 percent compared to this time last year, January 2016 sales had been down 9.5 percent. Available inventory continues to tighten across the region, while average sales prices grew modestly by 2.7 percent, now at $171,932.

Hamilton County saw decreases in all categories – average sales price, available inventory and pended sales. In February, the average sales price was down 0.3 percent to $268,678, listings declined by four houses, and pended sales dipped 16 percent compared to this time last year.

  • In Westfield, the average year-to-date home sale price stayed relatively flat compared to this time last year, now at $309,498.
  • Inventory moved at a slightly slower pace in Westfield in February 2016. Overall, homes sold in 85 days – five more days than this time last year.
  • Buyers in Westfield had more options available to them. Last month, 224 homes were available for sale – an increase of 30 homes compared to February 2015.
  • Pended home sales have slipped in Westfield. In February 2016, 58 homes sold – a decline of 23 homes compared to February 2015.
  • Of the pended home sales in Westfield last month, one was priced above $1,000,000; nine were priced $500,000 to $999,999; 19 were priced $300,000 to $499,999; 15 were priced $200,000 to $299,999; and 14 were priced $100,000 to $199,999.

The Spring buying season will heat up the market, but the low level of inventory will keep demand in check. As this trend continues, it’s more apparent average sale prices will only continue to rise.

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Column: Homes sales down 3.5 percent

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Pended home sales are gaining momentum in Central Indiana. Although February 2016’s data shows pended sales were down 3.5 percent compared to this time last year, January 2016 sales had been down 9.5 percent. Available inventory continues to tighten across the region, while average sales prices grew modestly by 2.7 percent, now at $171,932.

Hamilton Co. saw decreases in all categories – average sales price, available inventory and pended sales. In February, the average sales price inched down 0.3 percent to $268,678, listings declined by four houses, and pended sales dipped 16 percent compared to this time last year.

  • In Fishers/Geist, the average year-to-date home sale price declined 3.2 percent compared to this time last year, decreasing to $247,193.
  • Inventory moved at a slightly faster pace in Fishers/Geist in February 2016. Overall, homes sold in 79 days – eight fewer days than this time last year.
  • Buyers in Fishers/Geist had fewer options available to them. Last month, 464 homes were available for sale – eight fewer homes compared to February 2015.
  • Pended home sales have slipped in Fishers/Geist. In February 2016, 139 homes sold – a decline of 32 homes compared to February 2015.
  • Of the pended home sales in Fishers/Geist last month, nine were priced $500,000 to $999,999; 32 were priced $300,000 to $499,999; 40 were priced $200,000 to $299,999; 57 were priced $100,000 to $199,999; and one was priced below $99,999.

The spring buying season will heat up the market, but the low level of inventory will keep demand in check. As this trend continues, it’s more apparent average sale prices will only continue to rise.

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Column: Homes sales down 3.5 percent

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Pended home sales are gaining momentum in Central Indiana. Although February 2016’s data shows pended sales were down 3.5 percent compared to this time last year, January 2016 sales had been down 9.5 percent. Available inventory continues to tighten across the region, while average sales prices grew modestly by 2.7 percent, now at $171,932.

Hamilton County saw decreases in all categories – average sales price, available inventory and pended sales. In February, the average sales price inched down 0.3 percent to $268,678, listings declined by four houses, and pended sales dipped 16 percent compared to this time last year.

  • In Carmel, the average year-to-date home sales price stayed flat at $349,402.
  • Inventory moved at a slightly slower pace in Carmel in February 2016. Overall, homes sold in 97 days – 16 more days than this time last year.
  • Buyers in Carmel had fewer options available to them. Last month, 473 homes were available for sale – two fewer homes compared to February 2015.
  • Pended home sales have slipped in Carmel. In February 2016, 113 homes sold – a decline of 11 homes compared to February 2015.
  • Of the pended home sales in Carmel last month, two were priced $1,000,000 or higher; 16 were priced $500,000 to $999,999; 28 were priced $300,000 to $499,999; 38 were priced $200,000 to $299,999; 24 were priced $100,000 to $199,999; and five were priced below $99,999.

The Spring buying season will heat up the market, but the low level of inventory will keep demand in check. As this trend continues, it’s more apparent average sale prices will only continue to rise.

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Column: Homes sales down 3.5 percent

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Commentary by Jim Litten

Pended home sales are gaining momentum in Central Indiana. Although February 2016’s data shows pended sales were down 3.5 percent compared to this time last year, January 2016 sales had been down 9.5 percent. Available inventory continues to tighten across the region, while average sales prices grew modestly by 2.7 percent, now at $171,932.

Hamilton Co. saw decreases in all categories – average sales price, available inventory and pended sales. In February, the average sales price inched down 0.3 percent to $268,678, listings declined by four houses, and pended sales dipped 16 percent compared to this time last year.

  • In Noblesville, the average year-to-date home sale price declined 7.3 percent compared to this time last year, decreasing to $203,907.
  • Inventory moved at a slightly slower pace in Noblesville in February 2016. Overall, homes sold in 81 days – three more days than this time last year.
  • Buyers in Noblesville had fewer options available to them. Last month, 266 homes were available for sale – 26 fewer homes compared to February 2015.
  • Pended home sales have slipped in Noblesville. In February 2016, 80 homes sold – a decline of 27 homes compared to February 2015.
  • Of the pended home sales in Noblesville last month, one was priced $500,000 to $999,999; 15 were priced $300,000 to $499,999; 16 were priced $200,000 to $299,999; 45 were priced $100,000 to $199,999; and three were priced below $99,999.

The spring buying season will heat up the market, but the low level of inventory will keep demand in check. As this trend continues, it’s more apparent average sale prices will only continue to rise.

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