Commentary by Jim Litten
With average home prices reaching $176,835 in August 2014, home sales prices are up 6.7 percent compared to August 2013.
Hamilton County was among the counties that experienced slightly higher home sales prices in the first eight months of 2014 compared to the same time period last year. On average, homes sold for $268,408.
•In Noblesville, the average year-to-date sale price in August was $209,185, an increase of 2 percent compared to the same time period last year.
•Inventory is moving fast. Last month, homes in Noblesville remained on the market an average of 71 days, which is a decrease of four days from August 2013.
•The number of homes for sale in Noblesville is rising. In August 2014, 434 homes were on the market, an increase of 66 homes compared to August 2013.
•Pended home sales in Noblesville remains unchanged from last year – 122 homes pended in August 2013 and August 2014
•Of the pended home sales in Noblesville last month, four were priced $500,000 to $999,999; 19 were priced $300,000 to $499,999; 28 were priced $200,000 to $299,999; 63 were priced $100,000 to $199,999; and eight were priced at $99,999 or less.
This year’s sales are healthy although they appear sluggish compared to last year, which was the fourth best year in Indianapolis real estate history. Even as sales typically slow during autumn and winter months, we believe the Central Indiana housing market will remain strong on balance.
