With average Central Indiana home prices reaching $185,529 in July 2015, home sale prices are up 5.3 percent compared to July 2014.
Eight of the nine counties that F.C. Tucker tracks experienced slightly higher home sale prices in the first seven months of 2015 compared to the same time period last year. Hamilton County is among the areas that reported gains with an average sale price of $277,230, an increase of 4.0 percent compared to the same time period last year.
- In Westfield, year-to-date home sale prices rose 7.4 percent to $293,730, an increase of $20,314 compared to the same time period last year.
- Of the pended home sales in Westfield last month, one was priced above $1,000,000; five were priced $500,000 to $999,999; 17 were priced $300,000 to $499,999; 23 were priced $200,000 to $299,999 and 29 were priced $100,000 to $199,999.
- Inventory moved at a steady pace in Westfield in July 2015. Overall, homes sold in 45 days on average – five fewer days than this time last year.
- Buyers in Westfield have fewer options available to them. Last month, 256 homes were on the market, down five homes compared to July 2014.
- Pended home sales have slipped slightly in Westfield. In July 2015, 75 homes sold, a decline of 17 homes from July 2014.
We’re seeing the best July in the last five years in terms of sale prices, which have increased more than $34,000 on average. Meanwhile, the number of available homes on the market is the lowest we’ve experienced in five years – all pointing to a more balanced, stable market that tends to benefit sellers.