Column: Pended sales up 6.1 percent
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.