Column: Home inventory down 14.2 percent

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Commentary by Jim Litten

 

April was the 52nd consecutive month of increasing year-to-date home sale prices, growing an average 1.9 percent in central Indiana. While prices grew, home inventory stayed tight, as available homes were down 14.2 percent from this time last year.

Boone County saw growth across the board. Average home prices were up 7.3 percent to $279,603. Inventory saw a slight gain of 0.7 percent with 418 homes available as of April 30. The number of pended sales is also one of the highest in the 13-county region F.C. Tucker tracks. Compared to last year, month-to-date pended sales are up 10.5 percent, while year-to-date sales are up 15.5 percent.

  • In Zionsville, the average year-to-date home sales price increased 16.6 percent to $394,184.
  • Inventory moved at a slightly faster pace in Zionsville in April 2016. Overall, homes sold in 71 days – three fewer days than this time last year.
  • Buyers in Zionsville had more options available to them. Last month, 198 homes were available for sale – 18 more homes compared to April 2015.
  • Pended home sales slipped in Zionsville. In April 2016, 42 homes sold – nine fewer sales compared to April 2015.
  • Of the pended home sales in Zionsville last month, one was priced $1,000,000 to $1,999,999; seven were priced $500,000 to $999,999; 22 were priced $300,000 to $499,999; nine were priced $200,000 to $299,999; and three were priced $100,000 to $199,999.

The rate at which the average sale price is increasing is strong, but it’s also showing signs of tapering. From 2013 to 2015, prices grew rapidly, but now, they’re beginning to level off, similar to the beginning of 2012.


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Column: Home inventory down 14.2 percent

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Commentary by Jim Litten

 

April was the 52nd consecutive month of increasing year-to-date home sale prices, growing an average 1.9 percent in central Indiana. While prices grew, home inventory stayed tight, as available homes were down 14.2 percent from this time last year.

In Hamilton County, the rise in prices and decrease in inventory were more relaxed than the 13-county region. F.C. Tucker data revealed prices rose 0.2 percent while inventory tightened by 6.6 percent. Pended sales in April were lower than the same time last year, as pended sales in the county fell 10 percent compared to April 2015. However, year-to-date sales were relatively flat, down just 0.1 percent.

  • In Westfield, the average year-to-date home sales price increased 2.4 percent to $282,010.
  • Inventory moved at a slightly slower pace in Westfield in April 2016. Overall, homes sold in 71 days – four more days than this time last year.
  • Buyers in Westfield had more options available to them. Last month, 260 homes were available for sale – 23 more homes compared to April 2015.
  • The amount of pended home sales grew slightly in Westfield. In April 2016, 90 homes sold – one more sale compared to April 2015.
  • Of the pended home sales in Westfield last month, one was priced $1,000,000 to $1,999,999; 13 were priced $500,000 to $999,999; 25 were priced $300,000 to $499,999; 26 were priced $200,000 to $299,999; and 25 were priced $100,000 to $199,999.

The rate at which the average sale price is increasing is strong, but it’s also showing signs of tapering. From 2013 to 2015, prices grew rapidly, but now, they’re beginning to level off, similar to like we did at the beginning of 2012.


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Column: Home inventory down 14.2 percent

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Commentary by Jim Litten

 

April was the 52nd consecutive month of increasing year-to-date home sale prices, growing an average 1.9 percent in central Indiana. While prices grew, home inventory stayed tight, as available homes were down 14.2 percent from this time last year.

In Hamilton County, the rise in prices and decrease in inventory were more relaxed than the 13-county region. F.C. Tucker data revealed prices rose 0.2 percent while inventory tightened by 6.6 percent. Pended sales in April were lower than the same time last year, as pended sales in the county fell 10 percent compared to April 2015. However, year-to-date sales were relatively flat, down just 0.1 percent.

  • In Fishers/Geist, the average year-to-date home sales price increased 2.6 percent to $259,500.
  • Inventory moved at a faster pace in Fishers/Geist in April 2016. Overall, homes sold in 63 days – 10 fewer days than this time last year.
  • Buyers in Fishers/Geist had fewer options available to them. Last month, 542 homes were available for sale – 12 fewer homes compared to April 2015.
  • Pended home sales have slipped in Fishers/Geist. In April 2016, 208 homes sold – a decline of eight homes compared to April 2015.
  • Of the pended home sales in Fishers/Geist last month, nine were priced $500,000 to $999,999; 50 were priced $300,000 to $499,999; and 57 were priced $200,000 to $299,999.

The rate at which the average sale price is increasing is strong, but it’s also showing signs of tapering. From 2013 to 2015, prices grew rapidly, but now, they’re beginning to level off, similar to the beginning of 2012.


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Share.

Column: Home inventory down 14.2 percent

0

Commentary by Jim Litten

 

April was the 52nd consecutive month of increasing year-to-date home sale prices, growing an average 1.9 percent in central Indiana. While prices grew, home inventory stayed tight, as available homes were down 14.2 percent from this time last year.

In Hamilton County, the rise in prices and decrease in inventory were more relaxed than the 13-county region. F.C. Tucker data revealed prices rose 0.2 percent while inventory tightened by 6.6 percent. Pended sales in April were lower than the same time last year, as pended sales in the county fell 10 percent compared to April 2015. However, year-to-date sales were relatively flat, down just 0.1 percent.

  • In Noblesville, the average year-to-date home sales price increased 1.5 percent to $233,193.
  • Inventory moved at a slightly slower pace in Noblesville in April 2016. Overall, homes sold in 77 days – six more days than this time last year.
  • Buyers in Noblesville had fewer options available to them. Last month, 274 homes were available for sale – 89 fewer homes compared to April 2015.
  • Pended home sales have slipped in Noblesville. In April 2016, 101 homes sold – a decline of eight homes compared to April 2015.
  • Of the pended home sales in Noblesville last month, one was priced $1,000,000 to $1,999,999; three were priced $500,000 to $999,999; 18 were priced $300,000 to $499,999; 29 were priced $200,000 to $299,999; 44 were priced $100,000 to $199,999; and six were priced below $99,999.

The rate at which the average sale price is increasing is strong, but it’s also showing signs of tapering. From 2013 to 2015, prices grew rapidly, but now, they’re beginning to level off, similar to the beginning of 2012.


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Share.

Column: Home inventory down 14.2 percent

0

Commentary by Jim Litten

 

April was the 52nd consecutive month of increasing year-to-date home sale prices, growing an average 1.9 percent in central Indiana. While prices grew, home inventory stayed tight, as available homes were down 14.2 percent from this time last year.

In Hamilton County, the rise in prices and decrease in inventory were more relaxed than the 13-county region. F.C. Tucker data revealed prices rose 0.2 percent while inventory tightened by 6.6 percent. Pended sales in April were lower than the same time last year, as pended sales in the county fell 10 percent compared to April 2015. However, year-to-date sales were relatively flat, down just 0.1 percent.

  • In Fishers/Geist, the average year-to-date home sales price increased 2.6 percent to $259,500.
  • Inventory moved at a faster pace in Fishers/Geist in April 2016. Overall, homes sold in 63 days – 10 fewer days than this time last year.
  • Buyers in Fishers/Geist had fewer options available to them. Last month, 542 homes were available for sale – 12 fewer homes compared to April 2015.
  • Pended home sales have slipped in Fishers/Geist. In April 2016, 208 homes sold – a decline of eight homes compared to April 2015.
  • Of the pended home sales in Fishers/Geist last month, nine were priced $500,000 to $999,999; 50 were priced $300,000 to $499,999; and 57 were priced $200,000 to $299,999.

The rate at which the average sale price is increasing is strong, but it’s also showing signs of tapering. From 2013 to 2015, prices grew rapidly, but now, they’re beginning to level off, similar to the beginning of 2012.


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Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

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By submitting this form, you are consenting to receive marketing emails from: Current Publishing, 30 S. Range Line Road, Carmel, IN, 46032, https://www.youarecurrent.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
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