Column: Pended sales up 6.1 percent

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Central Indiana’s residential real estate market showed steady growth in September, according to statistics compiled by F.C. Tucker Company. Compared to September 2015, overall pended sales rose 6.1 percent despite homebuyers having 2,118 fewer homes on the market from which to choose. The average sales price increased 2.5 percent to $188,145. Statistics for the 15-county region indicate 2016 pended home sales are on track to exceed last year’s results.

Boone County’s pended sales jumped 17.9 percent in September 2016 compared to September 2015. Prices have also increased by 7.5 percent over last year to an average of $291,625. The number of available homes for sale continues to decline in the region; inventory in Boone County slid 14.6 percent, a drop of 63 homes available compared to this time last year.

  • In Zionsville, the average year-to-date home sales price increased 9.2 percent to $404,611 – the highest average for the 15-county region.
  • Inventory moved at a much slower pace in Zionsville in September 2016. Overall, homes sold in 90 days – 40 more days than this time last year.
  • Buyers in Zionsville had roughly the same number of homes available to them. Last month, 194 homes were available for sale – just two more homes compared to September 2015.
  • Pended home sales increased in Zionsville. In September 2016, 30 homes sold – an increase of two homes compared to September 2015.
  • Of the pended home sales in Zionsville last month, one was priced $1,000,000 to $1,999,999; 6 were priced $500,000 to $999,999; 14 were priced $300,000 to $499,999; five were priced $200,000 to $299,999; and four were priced $100,000 to $199,999.

Despite the drop in homes for sale, home buyers are snatching up available homes rather quickly. Low mortgage rates and appropriately priced homes should keep positive momentum in home buying through the end of 2016.

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Column: Pended sales up 6.1 percent

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Commentary by Jim Litten

 

Central Indiana’s residential real estate market showed steady growth in September, according to statistics compiled by F.C. Tucker Company. Compared to September 2015, overall pended sales rose 6.1 percent despite homebuyers having 2,118 fewer homes on the market from which to choose. The average sales price increased 2.5 percent to $188,145. Statistics for the 15-county region indicate 2016 pended home sales are on track to exceed last year’s results.

Hamilton County’s pended sales jumped more than 17 percent in September 2016 compared to September 2015. Prices have also increased by 2.8 percent over last year to an average of $285,496. The number of available homes for sale continues to decline in the region; inventory in Hamilton County slid 8.4 percent in September, a drop of 162 homes available compared to this time last year.

  • In Noblesville, the average year-to-date home sales price increased 3 percent to $237,813
  • Inventory moved at a slightly slower pace in Noblesville in September 2016. Overall, homes sold in 53 days – two more days than this time last year.
  • Buyers in Noblesville had fewer options available to them. Last month, 319 homes were available for sale – 98 fewer homes compared to September 2015.
  • Pended home sales increased in Noblesville. In September 2016, 85 homes sold – an increase of 11 homes compared to September 2015.
  • Of the pended home sales in Noblesville last month, four were priced $500,000 to $999,999; 24 were priced $300,000 to $499,999; 23 were priced $200,000 to $299,999; 33 were priced $100,000 to $199,999; and one was priced below $99,999.

Despite the drop in homes for sale, home buyers are snatching up available homes rather quickly. Low mortgage rates and appropriately priced homes should keep positive momentum in home buying through the end of 2016.

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Column: Pended sales up 6.1 percent

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Central Indiana’s residential real estate market showed steady growth in September, according to statistics compiled by F.C. Tucker Company. Compared to September 2015, overall pended sales rose 6.1 percent despite homebuyers having 2,118 fewer homes on the market from which to choose. The average sales price increased 2.5 percent to $188,145. Statistics for the 15-county region indicate 2016 pended home sales are on track to exceed last year’s results.

Hamilton County’s pended sales jumped more than 17 percent in September 2016 compared to September 2015. Prices have also increased by 2.8 percent over last year to an average of $285,496. The number of available homes for sale, however, continues to decline in the region; inventory in Hamilton County slid 8.4 percent in August, a drop of 162 homes available compared to this time last year.

  • In Carmel, the average year-to-date home sales price increased 1.8 percent to $356,940.
  • Inventory moved at a faster pace in Carmel in September 2016. Overall, homes sold in 54 days – 10 fewer days than this time last year.
  • Buyers in Carmel had fewer options available to them. Last month, 554 homes were available for sale – six fewer homes compared to September 2015.
  • Pended home sales have grown in Carmel. In September 2016, 135 homes sold – an increase of 32 homes compared to September 2015.
  • Of the pended home sales in Carmel last month, one was priced $2,000,000 or higher, three were priced $1,000,000 to $1,999,999; 14 were priced $500,000 to $999,999; 54 were priced $300,000 to $499,999; 38 were priced $200,000 to $299,999;  23 were priced $100,000 to $199,999 and two were priced $99,999 or less.

Despite the drop in homes for sale, home buyers are snatching up available homes rather quickly. Low mortgage rates and appropriately priced homes should keep positive momentum in home buying through the end of 2016.

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