Commentary by Jim Litten
With 2,528 pended sales in March in Central Indiana, overall year-to-date home sales are up 7.7 percent compared to this time period last year, according to statistics compiled by F.C. Tucker Company.
On a monthly basis, March 2015 pended home sales slipped 1.8 percent compared to March 2014, a decrease of 47 homes sold in the nine counties that F.C. Tucker tracks. However, home sales prices are trending up. In Hamilton County, year-to-date sale prices rose to $269,917, an increase of 4.4 percent from the same time period last year.
- In Noblesville, home prices increased 7.6 percent to $211,438 in the first quarter compared to the first three months of last year.
- Of the pended home sales in Noblesville last month, two were priced $500,000 to $999,999; 15 were priced $300,000 to $499,999; 30 were priced $200,000 to 299,999; 47 were priced $100,000 to $199,999; and seven were priced at $99,999 or less.
- The pace of home sales in Noblesville has improved. In March 2015, homes sold in 82 days on average, six days faster than March 2014.
- The number of homes sold in Noblesville was down slightly in March. Last month, 101 homes pended, a decrease of 17 homes compared to March 2014.
- Inventory in Noblesville has decreased. In March 2015, the number of homes for sale fell to 329 – tightening 0.6 percent from March 2014.
As we move into the second quarter, we believe home sales will increase and prices will remain strong. Though March sales were a little sluggish, we still expect to see activity gradually pick up due, in part, to recent job growth and the start of the spring selling season.
