More than 2,000 homes pended in February, with all but one Central Indiana county reporting increased sales compared to the same time last year, according to statistics compiled by F.C. Tucker Co. Overall, February 2013 pended home sales rose 8.1 percent over February 2012, an increase of 152 homes sold in the nine counties that F.C. Tucker tracks.
Real estate sales are off to a good start this year, and as the national economy has improved, we are seeing a spark in the local housing market as well. Hamilton County is one of the areas in Central Indiana seeing positive trends.
- In Hamilton County last month, 392 homes pended which is an increase of 20 homes compared to February of last year.
- Despite the uptick in Hamilton County, Westfield experienced a decline. In February 2013, 45 homes pended – a decrease of eight homes compared to February 2012.
- Housing prices in Westfield continue to make year-over-year gains. Last month, the average sales price climbed to $263,707, an increase of 18.8 percent compared to February of last year.
- Of the pended home sales in Westfield last month, one was priced $1,000,000 to $1,999,999; three were priced $500,000 to $999,999; nine were priced $300,000 to $499,999; nine were priced $200,000 to $299,999; 21 were priced $100,000 to $199,999; and two were priced at $99,999 or less.
- Prospective home buyers in Westfield are discovering the supply of available homes is getting smaller. Last month, 196 homes were on the market, down 36.4 percent compared to February 2012.
With the national unemployment rate at its lowest level in four years and the stock market experiencing a rebound, we anticipate that confidence will grow here in Central Indiana and continue to fuel housing sales.