Column: Home sales up 2.1 percent

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Commentary by Jim Litten

Home sellers have benefitted from the continued rise in home sale prices as the number of available homes steadily declines in the nine-county central Indiana region. The average sale price rose 2.1 percent in January 2016 compared to January 2015, while the region also saw an 11.7 percent decline in available homes. Tighter inventory also affected the year’s slow start in pended home sales, which declined 9.5 percent compared to last year.

Hamilton County’s average sale price stayed nearly flat compared to last year, now at $271,330. There were approximately 100 fewer houses on the market, which represented a 6.6 percent decline from last year. Pended sales in the county also dipped 25.6 percent.

  • In Westfield, the average year-to-date home sale price increased 5.1 percent compared to this time last year, increasing to $338,277.
  • Inventory moved at a slightly faster pace in Westfield in January 2016. Overall, homes sold in 67 days – five fewer days than this time last year.
  • Buyers in Westfield had more options available to them. Last month, 217 homes were available for sale – 24 more homes compared to January 2015.
  • Pended home sales have slipped in Westfield. In January 2016, 55 homes sold – a decline of 11 homes compared to January 2015.
  • Of the pended home sales in Westfield last month, one was priced $1,000,000 to $1,999,999; two were priced $500,000 to $999,999; 17 were priced $300,000 to $499,999; 14 were priced $200,000 to $299,999; 19 were priced $100,000 to $199,999; and two were priced at $99,999 or less.

Low inventory is a trend nationwide, and it can affect the health of the real estate market. The National Association of Realtors’ recent quarterly HOME study found 83 percent of current renters hope to own a home in the future. That demand may spark current homeowners to list their homes and perhaps help spur more sales in 2016.

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Column: Home sales up 2.1 percent

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Home sellers have benefitted from the continued rise in home sale prices as the number of available homes steadily declines in the nine-county central Indiana region. The average sale price rose 2.1 percent in January 2016 compared to January 2015, while the region also saw an 11.7 percent decline in available homes. Tighter inventory also affected the year’s slow start in pended home sales, which declined 9.5 percent compared to last year.

Hamilton County’s average sale price stayed nearly flat compared to last year, now at $271,330. There were approximately 100 fewer houses on the market, which represented a 6.6 percent decline from last year. Pended sales in the county also dipped 25.6 percent.

  • In Carmel, the average year-to-date home sale price rose 1.2 percent compared to this time last year, increasing to $333,545.
  • Inventory moved at a slightly faster pace in Carmel in January 2016. Overall, homes sold in 82 days – five fewer days than this time last year.
  • Buyers in Carmel had fewer options available to them. Last month, 429 homes were available for sale – 27 fewer homes compared to January 2015.
  • Pended home sales have slipped in Carmel. In January 2016, 66 homes sold – a decline of 33 homes compared to January 2015.
  • Of the pended home sales in Carmel last month, three were priced $1,000,000 or higher; four were priced $500,000 to $999,999; 31 were priced $300,000 to $499,999; 16 were priced $200,000 to $299,999; and 12 were priced $100,000 to $199,999.

Low inventory is a trend nationwide, and it can affect the health of the real estate market. The National Association of Realtors’ recent quarterly HOME study found 83 percent of current renters hope to own a home in the future. That demand may spark current homeowners to list their homes and perhaps help spur more sales in 2016.

Share.

Column: Home sales up 2.1 percent

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Home sellers have benefitted from the continued rise in home sale prices as the number of available homes steadily declines in the nine-county central Indiana region. The average sale price rose 2.1 percent in January 2016 compared to January 2015, while the region also saw an 11.7 percent decline in available homes. Tighter inventory also affected the year’s slow start in pended home sales, which declined 9.5 percent compared to last year.

Hamilton Co.’s average sale price stayed nearly flat compared to last year, now at $271,330. There were approximately 100 fewer houses on the market, which represented a 6.6 percent decline from last year. Pended sales in the county also dipped 25.6 percent.

  • In Fishers/Geist, the average year-to-date home sale price rose 2.4 percent compared to this time last year, increasing to $259,874.
  • Inventory moved at a slightly faster pace in Fishers/Geist in January 2016. Overall, homes sold in 79 days – three fewer days than this time last year.
  • Buyers in Fishers/Geist had fewer options available to them. Last month, 430 homes were available for sale – 35 fewer homes compared to January 2015.
  • Pended home sales have slipped in Fishers/Geist. In January 2016, 109 homes sold – a decline of 37 homes compared to January 2015.
  • Of the pended home sales in Fishers/Geist last month, one was priced $1,000,000 or higher; five were priced $500,000 to $999,999; 24 were priced $300,000 to $499,999; 35 were priced $200,000 to $299,999; 42 were priced $100,000 to $199,999; and two were priced at $99,999 or less.

Low inventory is a trend nationwide, and it can affect the health of the real estate market. The National Association of Realtors’ recent quarterly HOME study found 83 percent of current renters hope to own a home in the future. That demand may spark current homeowners to list their homes and perhaps help spur more sales in 2016.

Share.

Column: Home sales up 2.1 percent

0

Commentary by Jim Litten

 

Home sellers have benefitted from the continued rise in home sale prices as the number of available homes steadily declines in the nine-county central Indiana region. The average sale price rose 2.1 percent in January 2016 compared to January 2015, while the region also saw an 11.7 percent decline in available homes. Tighter inventory also affected the year’s slow start in pended home sales, which declined 9.5 percent compared to last year.

Hamilton Co.’s average sale price stayed nearly flat compared to last year, now at $271,330. There were approximately 100 fewer houses on the market, which represented a 6.6 percent decline from last year. Pended sales in the county also dipped 25.6 percent.

  • In Noblesville, the average year-to-date home sale price declined 13.7 percent compared to this time last year, decreasing to $196,520.
  • Inventory moved at a slightly slower pace in Noblesville in January 2016. Overall, homes sold in 82 days – three more days than this time last year.
  • Buyers in Noblesville had fewer options available to them. Last month, 258 homes were available for sale – 48 fewer homes compared to January 2015.
  • Pended home sales have slipped in Noblesville. In January 2016, 74 homes sold – a decline of 21 homes compared to January 2015.
  • Of the pended home sales in Noblesville last month, two were priced $500,000 to $999,999; 14 were priced $300,000 to $499,999; 18 were priced $200,000 to $299,999; 34 were priced $100,000 to $199,999; and six were priced at $99,999 or less.

Low inventory is a trend nationwide, and it can affect the health of the real estate market. The National Association of Realtors’ recent quarterly HOME study found 83 percent of current renters hope to own a home in the future. That demand may spark current homeowners to list their homes and perhaps help spur more sales in 2016

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