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 Westfield, the average year-to-date sale price in August was $266,675, an increase of 3.9 percent compared to the same time period last year.
•Inventory is moving fast. Last month, homes in Westfield remained on the market an average of 60 days, which is a decrease of eight days from August 2013.
•The number of homes for sale in Westfield remains steady. In August 2014, 249 homes were on the market, a modest increase of six homes compared to August 2013.
•Pended home sales experienced a modest increase in Westfield. Last month 80 homes pended, an uptick of nine homes from August 2013.
•Of the pended home sales in Westfield last month, eight were priced $500,000 to $999,999; 19 were priced $300,000 to $499,999; 21 were priced $200,000 to $299,999; and 32 were priced $100,000 to $199,999.
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.
