Commentary by Jim Litten
More than 2,000 homes pended in September, with five Central Indiana counties reporting increased sales compared to the same time period last year, according to statistics compiled by F.C. Tucker Company. Overall, September 2014 pended home sales rose 1.1 percent to 2,203 over September 2013, an increase of 25 homes sold in the nine counties that F.C. Tucker tracks. Year-to-date, 22,527 homes pended, a decline of 1,562 homes compared to the same time period in 2013.
In Hamilton County last month, pended sales declined to 456 from 481 in September 2013, a difference of 5.2 percent. However, some areas within the county experienced an increase.
- Pended home sales increased in Noblesville. Last month, 100 homes pended, a modest decrease of three homes compared to September 2013.
- Of the pended home sales in Noblesville last month, three were priced $500,000 to $999,999; 17 were priced $300,000 to $499,999; 22 were priced $200,000 to $299,999; 51 were priced $100,000 to $199,999; and seven were priced at $99,999 or less.
- In Noblesville, the average year-to-date sale price in September was $209,960, an increase of 1.4 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 70 days, which is a decrease of four days from September 2013.
- The number of homes for sale in Noblesville is rising. In September 2014, 417 homes were on the market, an increase of 73 homes compared to September 2013.
As we move into the final quarter of the year, sales appear healthy. Though sales will likely slow as we settle into the colder months, we believe the Central Indiana housing market will continue to make subtle progress.
