The year finished on a high note, with 2015 showing an 8 percent increase in pended home sales over 2014 in the nine-county central Indiana region. It was a strong year for sellers, as sale prices increased each month while available homes decreased during 11 months in 2015 when compared to 2014. December 2015 also saw growth in pended sales and average sales prices by 0.6 percent and 4.4 percent, respectively.

Hamilton County’s inventory declined 8.1 percent while the average year-to-date sales price for homes in the county climbed 3.9 percent to $278,163.

• In Westfield, the average year-to-date home sales price increased 9.1 percent compared to this time last year, rising to $294,077.
• Inventory moved at a slower pace in Westfield in December 2015. Overall, homes sold in 78 days – nine more days than this time last year.
• Buyers in Westfield had more options available to them. Last month, 212 homes were available for sale – 38 more homes compared to December 2014.
• Pended home sales increased in Westfield. In December 2015, 56 homes sold – 17 more homes compared to December 2014.
• Of the pended home sales in Westfield last month, one was priced $1,000,000 to $1,999,999; 14 were priced $500,000 to $999,999; 22 were priced $300,000 to $499,999; 11 were priced $200,000 to $299,999; seven were priced $100,000 to $199,999; and one was priced at $99,999 or less.

2015 was marked by modest growth, but the nine-county central Indiana region has performed as well as and, in some respects, better than the national trends in home sales. We expect 2016 to emulate last year, as interest rates and affordability affect the industry. However, we’re optimistic that homeownership is still appealing to the majority of millennials, as reported by the National Association of Realtors, which indicates 94 percent of current renters younger than 35 want to buy a home.