Column: Selling prices up 2.7 percent

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March revealed it’s a sellers’ market in central Indiana residential real estate. The amount of available listings decreased 13.5 percent compared to this time last year, and this has helped raise the average selling price of a home 2.7 percent across the region. The number of pended home sales have also increased year to date by approximately 1.6 percent compared to 2015.

March 2016 was a slower month for Hamilton County compared to this time last year. Pended sales declined 8.5 percent, or 57 homes, compared to March 2015. Inventory also tightened by approximately 6 percent, a decrease of 102 houses. In addition, average sale prices inched up 0.5 percent to $272,524.

  • In Westfield, the average year-to-date home sales price increased 0.6 percent, now at $313,252.
  • Inventory moved at the same pace in Westfield in March 2016 compared to March 2015. Overall, homes sold in 79 days.
  • Buyers in Westfield had more options available to them. Last month, 232 homes were available for sale – an increase of 31 homes compared to March 2015.
  • Pended home sales have slipped in Westfield. In March 2016, 82 homes sold – a decline of 10 homes compared to March 2015.
  • Of the pended home sales in Westfield last month, eight were priced $500,000 to $999,999; 16 were priced $300,000 to $499,999; 23 were priced $200,000 to $299,999; and 35 were priced $100,000 to $199,999.

It is a prime time to be a seller. Sellers do not have as much competition, as buyer options at all price levels – starter, trade-up and premium – are dropping, especially in the starter category. And, the pacing of sales continues to accelerate month over month.

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Column: Selling prices up 2.7 percent

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Commentary by Jim Litten

 

March revealed it’s a sellers’ market in central Indiana residential real estate. The amount of available listings decreased 13.5 percent compared to this time last year, and this has helped raise the average selling price of a home 2.7 percent across the region. The number of pended home sales have also increased year to date by approximately 1.6 percent compared to 2015.

March 2016 was a slower month for Hamilton Co. compared to this time last year. Pended sales declined 8.5 percent, or 57 homes, compared to March 2015. Inventory also tightened by approximately 6 percent, a decrease of 102 houses. In addition, average sale prices inched up 0.5 percent to $272,524.

  • In Fishers/Geist, the average year-to-date home sales price decreased 1.7 percent, now at $252,693.
  • Inventory moved at a slightly faster pace in Fishers/Geist in March 2016. Overall, homes sold in 74 days – five fewer days than this time last year.
  • Buyers in Fishers/Geist had more options available to them. Last month, 526 homes were available for sale – an increase of 12 homes compared to March 2015.
  • Pended home sales have slipped in Fishers/Geist. In March 2016, 204 homes sold – a decline of 27 homes compared to March 2015.
  • Of the pended home sales in Fishers/Geist last month, one was priced $1,000,000 or higher; seven were priced $500,000 to $999,999; 47 were priced $300,000 to $499,999; 66 were priced $200,000 to $299,999; 80 were priced $100,000 to $199,999; and three were priced below $99,999.

It is a prime time to be a seller. Sellers do not have as much competition, as buyer options at all price levels – starter, trade-up and premium – are dropping, especially in the starter category. And, the pacing of sales continues to accelerate month over month.

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Column: Selling prices up 2.7 percent

0

Commentary by Jim Litten

March revealed it’s a sellers’ market in central Indiana residential real estate. The amount of available listings decreased 13.5 percent compared to this time last year, and this has helped raise the average selling price of a home 2.7 percent across the region. The number of pended home sales have also increased year to date by approximately 1.6 percent compared to 2015.

March 2016 was a slower month for Hamilton Co. compared to this time last year. Pended sales declined 8.5 percent, or 57 homes, compared to March 2015. Inventory also tightened by approximately 6 percent, a decrease of 102 houses. In addition, average sale prices inched up 0.5 percent to $272,524.

  • In Noblesville, the average year-to-date home sales price stayed flat, now at $214,526.
  • Inventory moved at a slightly faster pace in Noblesville in March 2016. Overall, homes sold in 77 days – seven fewer days than this time last year.
  • Buyers in Noblesville had fewer options available to them. Last month, 263 homes were available for sale – 66 fewer homes compared to March 2015.
  • Pended home sales have slipped in Noblesville. In March 2016, 120 homes sold – a decline of 10 homes compared to March 2015.
  • Of the pended home sales in Noblesville last month, three were priced $500,000 to $999,999; 25 were priced $300,000 to $499,999; 24 were priced $200,000 to $299,999; 63 were priced $100,000 to $199,999; and five were priced below $99,999.

It is a prime time to be a seller. Sellers do not have as much competition, as buyer options at all price levels – starter, trade-up and premium – are dropping, especially in the starter category. And, the pacing of sales continues to accelerate month over month.

Share.

Column: Selling prices up 2.7 percent

0

March revealed it’s a sellers’ market in central Indiana residential real estate. The amount of available listings decreased 13.5 percent compared to this time last year, and this has helped raise the average selling price of a home 2.7 percent across the region. The number of pended home sales have also increased year to date by approximately 1.6 percent compared to 2015.

In March 2016, Boone was the only county in the region to show an increase in inventory. There were 387 homes for sale, beating last year’s total by one home. Boone County’s pended sales declined 5.3 percent, or five homes, compared to last year. However, average sale prices inched up 1.6 percent to $266,620.

  • In Zionsville, the average year-to-date home sales price increased 2.4 percent, now at $395,945.
  • Inventory moved at a slower pace in Zionsville in March 2016. Overall, homes sold in 99 days – 14 more days than this time last year.
  • Buyers in Zionsville had more options available to them. Last month, 193 homes were available for sale – an increase of nine homes compared to March 2015.
  • Pended home sales have slipped in Zionsville. In March 2016, 49 homes sold – a decline of six homes compared to March 2015.
  • Of the pended home sales in Zionsville last month, one was priced $1,000,000-$1,999,999; 10 were priced $500,000 to $999,999; 25 were priced $300,000 to $499,999; nine were priced $200,000 to $299,999; and four were priced $100,000 to $199,999.

It is a prime time to be a seller. Sellers do not have as much competition, as buyer options at all price levels – starter, trade-up and premium – are dropping, especially in the starter category. And, the pacing of sales continues to accelerate month over month.

Share.

Column: Selling prices up 2.7 percent

0

March revealed it’s a sellers’ market in central Indiana residential real estate. The amount of available listings decreased 13.5 percent compared to this time last year, and this has helped raise the average selling price of a home 2.7 percent across the region. The number of pended home sales have also increased year to date by approximately 1.6 percent compared to 2015.

March 2016 was a slower month for Hamilton Co. compared to this time last year. Pended sales declined 8.5 percent, or 57 homes, compared to March 2015. Inventory also tightened by approximately 6 percent, a decrease of 102 houses. In addition, average sale prices inched up 0.5 percent to $272,524.

  • In Fishers/Geist, the average year-to-date home sales price decreased 1.7 percent, now at $252,693.
  • Inventory moved at a slightly faster pace in Fishers/Geist in March 2016. Overall, homes sold in 74 days – five fewer days than this time last year.
  • Buyers in Fishers/Geist had more options available to them. Last month, 526 homes were available for sale – an increase of 12 homes compared to March 2015.
  • Pended home sales have slipped in Fishers/Geist. In March 2016, 204 homes sold – a decline of 27 homes compared to March 2015.
  • Of the pended home sales in Fishers/Geist last month, one was priced $1,000,000 or higher; seven were priced $500,000 to $999,999; 47 were priced $300,000 to $499,999; 66 were priced $200,000 to $299,999; 80 were priced $100,000 to $199,999; and three were priced below $99,999.

It is a prime time to be a seller. Sellers do not have as much competition, as buyer options at all price levels – starter, trade-up and premium – are dropping, especially in the starter category. And, the pacing of sales continues to accelerate month over month.

Share.

Column: Selling prices up 2.7 percent

0

March revealed it’s a sellers’ market in central Indiana residential real estate. The amount of available listings decreased 13.5 percent compared to this time last year, and this has helped raise the average selling price of a home 2.7 percent across the region. The number of pended home sales have also increased year to date by approximately 1.6 percent compared to 2015.

March 2016 was a slower month for Hamilton County compared to this time last year. Pended sales declined 8.5 percent, or 57 homes, compared to March 2015. Inventory also tightened by approximately 6 percent, a decrease of 102 houses. In addition, average sale prices inched up 0.5 percent to $272,524.

  • In Carmel, the average year-to-date home sales price decreased 0.3 percent to $348,802.
  • Inventory moved at a slightly slower pace in Carmel in March 2016. Overall, homes sold in 93 days – 11 more days than this time last year.
  • Buyers in Carmel had fewer options available to them. Last month, 482 homes were available for sale – 62 fewer homes compared to March 2015.
  • Pended home sales have slipped in Carmel. In March 2016, 160 homes sold – a decline of 18 homes compared to March 2015.
  • Of the pended home sales in Carmel last month, three were priced $1,000,000 or higher; 21 were priced $500,000 to $999,999; 57 were priced $300,000 to $499,999; 50 were priced $200,000 to $299,999; 27 were priced $100,000 to $199,999; and two were priced below $99,999.

It is a prime time to be a seller. Sellers do not have as much competition, as buyer options at all price levels – starter, trade-up and premium – are dropping, especially in the starter category. And, the pacing of sales continues to accelerate month over month.

Share.