By Jim Litten
President and CEO of F.C. Tucker Company
Spring often ushers in an increase in home sales, and that trend is happening across much of central Indiana. In March 2012, 2,327 homes sold – an overall increase of 4.9 percent over March 2011 – in the nine counties F.C. Tucker tracks. In Hamilton County, specifically, 498 homes pended, which is an increase of 38 homes from March 2011.
• In Noblesville, 86 homes sold in March 2012. Coincidentally, 86 also sold in March 2011.
• Home prices in Noblesville continue to increase. The average sales price increased by 11.5 percent to $183,054 in March 2012.
• Of the pended home sales in Noblesville, four were priced $500,000 to $999,999; five were priced $300,000 to $499,999; and 77 were priced at $299,999 or less.
• Inventory in Noblesville continues to gradually decrease, which is a sign of market stabilization. In March 2012, there were 466 homes for sale – a decrease of 42 homes from the year before.
The market is slowly trending up, both nationally and here in central Indiana. We anticipate prices will continue to increase as investors and first-time homebuyers compete for bargain-priced homes.