Column: Homes sales up in central Indiana

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Commentary by Jim Litten

Approximately 1,000 more homes have sold in central Indiana during the first five months of 2016 than the same time period last year, according to data from the 13-county region F.C. Tucker tracks. In a monthly comparison, approximately 3,059 homes pended in May 2016, which was a 3 percent increase over May 2015. Homes priced above $300,000 contributed to the majority of last month’s growth in pended sales.

In Hamilton County, pended sales are up 2.6 percent year-to-date and up 7.6 percent month-to-date. Approximately 45 more homes pended throughout the county than May 2015. The average sales price rose 1.4 percent compared to last year, now at $276,505. Meanwhile, inventory tightened 9.3 percent year to date.

  • In Noblesville, the average year-to-date home sales price increased 2.5 percent to $228,986.
  • Inventory moved at a slower pace in Noblesville in May 2016. Overall, homes sold in 67 days – 15 more days than this time last year.
  • Buyers in Noblesville had fewer options available to them. Last month, 299 homes were available for sale – 107 fewer homes compared to May 2015.
  • Pended home sales grew in Noblesville. In May 2016, 103 homes sold – an increase of five homes compared to May 2015.
  • Of the pended home sales in Noblesville last month, eight were priced $500,000 to $999,999; 27 were priced $300,000 to $499,999; 22 were priced $200,000 to $299,999; and 46 were priced $100,000 to $199,999.

May was a busy month for our sales associates, but the demand exists for more homes to be on the market. Central Indiana has approximately 2.3 months of inventory. Typically, if inventory falls below four months, we know it’s a seller’s market.


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Column: Homes sales up in central Indiana

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Approximately 1,000 more homes have sold in central Indiana during the first five months of 2016 than the same time period last year, according to data from the 13-county region F.C. Tucker tracks. In a monthly comparison, approximately 3,059 homes pended in May 2016, which was a 3 percent increase over May 2015. Homes priced above $300,000 contributed to the majority of last month’s growth in pended sales.

In Hamilton County, pended sales are up 2.6 percent year to date and up 7.6 percent month to date. Approximately 45 more homes pended throughout the county than May 2015. The average sales price rose 1.4 percent compared to last year, now at $276,505. Meanwhile, inventory tightened 9.3 percent year to date.

  • In Westfield, the average year-to-date home sales price increased 2.3 percent to $305,580.
  • Inventory moved at a faster pace in Westfield in May 2016. Overall, homes sold in 56 days – eight fewer days than this time last year.
  • Buyers in Westfield had more options available to them. Last month, 285 homes were available for sale – 48 more homes compared to May 2015.
  • Pended home sales grew in Westfield. In May 2016, 107 homes sold – an increase of 31 homes compared to May 2015.
  • Of the pended home sales in Westfield last month, 14 were priced $500,000 to $999,999; 23 were priced $300,000 to $499,999; 31 were priced $200,000 to $299,999; and 39 were priced $100,000 to $199,999.

May was a busy month for our sales associates, but the demand exists for more homes to be on the market. Central Indiana has approximately 2.3 months of inventory. Typically, if inventory falls below four months, we know it’s a seller’s market.


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Column: Homes sales up in central Indiana

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Approximately 1,000 more homes have sold in central Indiana during the first five months of 2016 than the same time period last year, according to data from the 13-county region F.C. Tucker tracks. In a monthly comparison, approximately 3,059 homes pended in May 2016, which was a 3 percent increase over May 2015. Homes priced above $300,000 contributed to the majority of last month’s growth in pended sales.

In Boone County, pended sales are up 12.7 percent year to date and up 6.4 percent month to date. Approximately seven more homes pended throughout the county than May 2015. The average sales price rose 2.7 percent compared to last year, now at $276,316. Meanwhile, inventory tightened 5.2 percent year to date.

  • In Zionsville, the average year-to-date home sales price increased 3.1 percent to $390,171.
  • Inventory moved at a slightly slower pace in Zionsville in May 2016. Overall, homes sold in 79 days – one more day than this time last year.
  • Buyers in Zionsville had fewer options available to them. Last month, 195 homes were available for sale – 12 fewer homes compared to May 2015.
  • Pended home sales grew in Zionsville. In May 2016, 62 homes sold – an increase of three homes compared to May 2015.
  • Of the pended home sales in Zionsville last month, three were priced $1,000,000 to $1,999,999; six were priced $500,000 to $999,999; 27 were priced $300,000 to $499,999; 18 were priced $200,000 to $299,999; and eight were priced $100,000 to $199,999.

May was a busy month for our sales associates, but the demand exists for more homes to be on the market. Central Indiana has approximately 2.3 months of inventory. Typically, if inventory falls below four months, we know it’s a seller’s market.


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