With average home prices reaching $168,669 in May 2014, home sales prices are up 7 percent compared to May 2013.
Seven of the nine counties that F.C. Tucker tracks experienced slightly higher home sales prices in the first five months of 2014 compared to the same time period last year.
In Hamilton County, prices were up 8.7 percent reaching $259,578.
- The average sale price continues to climb in Westfield. For the first five months of this year, homes sold for $269,955 on average – an increase of 7.1 percent compared to 2013.
- Of the home sales in Westfield last month, one was priced $2 million or more; seven were priced $500,000 to $1 million; 16 were priced $300,000 to $499,999; 21 were priced $200,000 to $299,999; 41 were priced $100,000 to $199,999; and one was priced at $99,999 or less.
- Home sales in Westfield are down slightly. In May 2014, 87 homes sold, a decrease of nine homes compared to May 2013.
- Inventory has increased in Westfield. In May 2014, 251 homes were on the market. In May 2013, 229 homes were available for sale.
- Homes in Westfield are selling at a faster pace. For the first five months of this year, homes stayed on the market an average of 64 days, which is 13 fewer days than the same time period last year.
Though sales have been slow to grow this year, we’re still optimistic.
Affordability and low interest rates have been favorable for buyers looking to make smart purchases, so we hope to see more positive momentum in the coming months.