Column: Sales remain a balancing act

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Central Indiana’s real estate market remains a balancing act between available inventory and sale prices. Sale prices rose 4.3 percent last month compared to October 2014, while active listings declined 7.6 percent. In addition, the nine-county region saw a 15.3 percent dip in pended home sales last month. However, home sales are still up 7 percent for the year.

Mirroring Central Indiana’s trend of few homes on the market and higher sale prices, Hamilton County saw a 6 percent decline in inventory while the average year-to-date sale price for the county climbed 6.4 percent to $277,048.

  • In Westfield, the average year-to-date home sale price rose 7.4 percent compared to this time last year, increasing to $289,390.
  • Inventory moved at a faster pace in Westfield in October 2015 compared to October 2014. Overall, homes sold in 75 days – three fewer days than this time last year.
  • Buyers in Westfield had more options available to them. Last month, 261 homes were available for sale – 40 more homes compared to October 2014.
  • Pended home sales increased slightly in Westfield. In October 2015, 55 homes sold – an upturn of five homes compared to October 2014.
  • Of the pended home sales in Westfield last month, one was priced $1,000,000 to $1,999,999; one was priced $500,000 to $999,999; 14 were priced $300,000 to $499,999; 19 were priced $200,000 to $299,999; and 19 were priced $100,000 to $199,999.

Declines in the fourth quarter of the housing market should be expected, but there are several other factors impacting the overall picture of October. According to the Consumer Confidence Index, we know consumer confidence declined in October, yet Indiana’s job market and average salaries are growing, signaling a promising end to 2015.


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Column: Sales remain a balancing act

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Commentary by Jim Litten

Central Indiana’s real estate market remains a balancing act between available inventory and sale prices. Sale prices rose 4.3 percent last month compared to October 2014, while active listings declined 7.6 percent. In addition, the nine-county region saw a 15.3 percent dip in pended home sales last month. However, home sales are still up 7 percent for the year.

Mirroring Central Indiana’s trend of few homes on the market and higher sale prices, Hamilton County saw a 6 percent decline in inventory while the average year-to-date sale price for the county climbed 6.4 percent to $277,048.

  • In Noblesville, the average year-to-date home sale price rose 9.2 percent compared to this time last year, increasing to $232,600.
  • Inventory moved at a slower pace in Noblesville in October 2015. Overall, homes sold in 90 days – 23 fewer days than this time last year.
  • Buyers in Noblesville had 366 homes available for sale last month, which is 21 fewer homes available than in October 2014.
  • Pended home sales have slipped in Noblesville. In October 2015, 98 homes sold – a decline of 20 homes compared to October 2014.
  • Of the pended home sales in Noblesville last month, six were priced $500,000 to $999,999; 18 were priced $300,000 to $499,999; 17 were priced $200,000 to $299,999; 51 were priced $100,000 to $199,999; and six were priced at $99,999 or less.

Declines in the fourth quarter of the housing market should be expected, but there are several other factors impacting the overall picture of October. According to the Consumer Confidence Index, we know consumer confidence declined in October, yet Indiana’s job market and average salaries are growing, signaling a promising end to 2015.


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Column: Sales remain a balancing act

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Central Indiana’s real estate market remains a balancing act between available inventory and sale prices. Sale prices rose 4.3 percent last month compared to October 2014, while active listings declined 7.6 percent. In addition, the nine-county region saw a 15.3 percent dip in pended home sales last month. However, home sales are still up 7 percent for the year.

Mirroring Central Indiana’s trend of few homes on the market and higher sale prices, Hamilton County saw a 6 percent decline in inventory while the average year-to-date sale price for the county climbed 6.4 percent to $277,048.

  • In Fishers/Geist, the average year-to-date home sale price rose 3.2 percent compared to this time last year, increasing to $263,050.
  • Inventory moved at an even pace in Fishers/Geist in October 2015. Overall, homes sold in 64 days – the same amount of days as this time last year.
  • Buyers in Fishers/Geist had fewer options available to them. Last month, 527 homes were available for sale – 103 fewer homes compared to October 2014.
  • Pended home sales have slipped in Fishers/Geist. In October 2015, 134 homes sold – a decline of 44 homes compared to October 2014.
  • Of the pended home sales in Fishers/Geist last month, eight were priced $500,000 to $999,999; 30 were priced $300,000 to $499,999; 38 were priced $200,000 to $299,999; 55 were priced $100,000 to $199,999; and three were priced at $99,999 or less.

Declines in the fourth quarter of the housing market should be expected, but there are several other factors impacting the overall picture of October. According to the Consumer Confidence Index, we know consumer confidence declined in October, yet Indiana’s job market and average salaries are growing, signaling a promising end to 2015.


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Column: Sales remain a balancing act

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Central Indiana’s real estate market remains a balancing act between available inventory and sale prices. Sale prices rose 4.3 percent last month compared to October 2014, while active listings declined 7.6 percent. In addition, the nine-county region saw a 15.3 percent dip in pended home sales last month. However, home sales are still up 7 percent for the year.

Boone County was the only county to defy the trend in October. The county had an increase in inventory, at 1.2 percent. The average year-to-date sale price for the county declined 3.7 percent to $271,276.

  • In Zionsville, the average year-to-date home sale price dropped 4 percent compared to this time last year, decreasing to $373,188.
  • Inventory moved at a slower pace in Zionsville in October 2015 compared to October 2014. Overall, homes sold in 93 days – 19 days slower than this time last year.
  • Buyers in Zionsville had slightly fewer options available to them. Last month, 183 homes were available for sale – five fewer homes compared to October 2014.
  • Pended home sales have slipped in Zionsville. In October 2015, 22 homes sold – a decline of 26 homes compared to October 2014.
  • Of the pended home sales in Zionsville last month, 10 were priced $500,000 to $999,999; one was priced $300,000 to $499,999; three were priced $200,000 to $299,999; and eight were priced $100,000 to $199,999.

Declines in the fourth quarter of the housing market should be expected, but there are several other factors impacting the overall picture of October. According to the Consumer Confidence Index, we know consumer confidence declined in October, yet Indiana’s job market and average salaries are growing, signaling a promising end to 2015.


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Column: Sales remain a balancing act

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Central Indiana’s real estate market remains a balancing act between available inventory and sale prices. Sale prices rose 4.3 percent last month compared to October 2014, while active listings declined 7.6 percent. In addition, the nine-county region saw a 15.3 percent dip in pended home sales last month. However, home sales are still up 7 percent for the year.

Mirroring Central Indiana’s trend of few homes on the market and higher sale prices, Hamilton County saw a 6 percent decline in inventory while the average year-to-date sale price for the county climbed 6.4 percent to $277,048.

  • In Carmel, the average year-to-date home sale price rose 0.9 percent compared to this time last year, increasing to $349,688.
  • Inventory moved at a slightly faster pace in Carmel in October 2015. Overall, homes sold in 63 days – four fewer days than this time last year.
  • Buyers in Carmel had slightly fewer options available to them. Last month, 528 homes were available for sale – nine fewer homes compared to October 2014.
  • Pended home sales have slipped in Carmel. In October 2015, 94 homes sold – a decline of 26 homes compared to October 2014.
  • Of the pended home sales in Carmel last month, one was priced $1,000,000 or higher; 12 were priced $500,000 to $999,999; 29 were priced $300,000 to $499,999; 30 were priced $200,000 to $299,999; 18 were priced $100,000 to $199,999; and four were priced at $99,999 or less.

Declines in the fourth quarter of the housing market should be expected, but there are several other factors impacting the overall picture of October. According to the Consumer Confidence Index, we know consumer confidence declined in October, yet Indiana’s job market and average salaries are growing, signaling a promising end to 2015.


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