Commentary by Jim Litten
With 2,457 sales in July in Central Indiana, overall year-to-date home sales are up 19.4 percent compared to this time last year, according to statistics compiled by F.C. Tucker Co.
On a monthly basis, July 2013 home sales fell 0.3 percent compared to July 2012, a slight decrease of seven homes sold in the nine counties that F.C. Tucker tracks. Four counties reported increased sales compared to July 2012.
Specifically in Hamilton County, home sales for the first seven months of 2013 rose 22.3 percent compared to the same time last year.
- Year to date, Hamilton County home sales soared to 4,280 – an increase of 781 homes from the same time last year.
- Despite the gain in sales in Hamilton County, Noblesville experienced a decrease in pended home sales. In July 2013, 92 homes pended – down 15 homes compared to July 2012.
- Home prices are up in Noblesville. In July 2013, the average home cost $222,032 – an increase of $26,292 from July 2012.
- Of the pended home sales in Noblesville, three were priced $500,000 to $999,999; 12 were priced $300,000 to $499,999; 18 were priced $200,000 to $299,999; 51 were priced $100,000 to $199,999; and eight were priced at $99,999 or less.
- Inventory continues to tighten. In July 2013, 404 homes were available for sale in Noblesville. In July 2012, 493 homes were on the market.
It’s common for home sales to slow a bit as we move into the second half of the year. Even though pended sales in some areas pulled back slightly in July, the average home price continued to climb. With competitive prices and shrinking inventory, we believe our housing recovery will continue to move in the right direction.