The holiday season descended upon central Indiana and real estate markets everywhere felt the effects, as fewer closings took place and listings were down. The Noblesville real estate market was not exempt from this phenomenon as a total of just 51 closings took place in November, or 22.7 percent fewer, compared to the previous month’s total of 66. What’s more, this represents a decrease of 32 percent compared to last November’s total of 75 closings. And, from September through November of this year there were, on average, just 63 closings per month, or 13.7 percent fewer, compared to this same period 1 year ago, when the monthly average was 73 closings.
Things looked a little bit better in the category of pending sales, as there was a 21-percent increase versus the previous month’s total of 62. But compared to this same time last year, total pending sales were down 2.6 percent.
While the neighboring Indianapolis real estate market saw a 4.1-percent decrease in total listings in November compared to the previous month, the city of Noblesville, Indiana saw a much greater 9-percent drop over this same period, finishing with a total of just 605 homes for sale. Finally, the Noblesville Indiana real estate market saw a decrease of 9.4 percent in the average number of homes listed for sale per month from September through November of this year compared to this same period 1 year ago.
Some other Noblesville real estate market stats:
- There were 11.9 months of inventory on the Noblesville real estate market in November based on closed sales and 8.1 months of inventory based on pending sales.
- The absorption rate was 8.4 percent based on closed sales and 12.4 percent based on pending sales.
- Noblesville time on market improved significantly as homes spent an average of just 70 days on the market versus the previous month’s patience-testing average of 101 days.
- The average ‘sold’ price was $179,000, while the average active price was $248,000. The 12-month averages for these 2 stats are $179,000 and $254,000 respectively.
- The average price per square foot fell 9.2 percent, from $76 in October to $69 in November.
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