Well, the good news was that sales in Noblesville were up 46.6 percent, from an anemic total of 73 closings in July to a more respectable 107 in August. Not only this, but versus this same month 1 year ago sales were still up 20.2 percent. If only the same could be said for pending sales. A 10.8-percent drop in this category translated into 9 fewer pending sales in August, 2011. Compared to last August’s total of 76 this was only a 2.6-percent decrease. The only positive stat having to do with pending sales comes from our quarterly analysis. Specifically, from June through August of 2011 there were, on average, a total of 83 pending sales in the pipeline, or 5.1 percent more, versus this same quarter 1 year ago.
The good news for sellers was there was less competition as the total number of Noblesville homes for sale fell 1.7 percent, from 700 in July to 688 in August. But the difference was most pronounced versus 1 year ago, when there were 15 percent more homes on the Noblesville real estate market. From June through August of this year there were on average 12.9 percent fewer listings versus this same quarter 1 year ago.
Some other Noblesville real estate market stats:
- Of the 688 homes listed for sale in Noblesville Indiana 138 were new listings. This marks a 1.4-percent decrease versus the previous month’s total of 140 and a more significant 18.3-percent drop versus last August’s total of 169. The 12-month average number of new listings is 140.
- Homes in Noblesville spent an average of 16 percent less time on market compared to the previous month, or 83 days versus 99 respectively. But while 83 days on the market is a respectable improvement it is a far cry from last August’s average of just 69 days. The 12-month average time on market in this particular area of central Indiana is 103 days.
- The absorption rate based on closed sales was 15.6 percent, while the absorption rate based on pending sales was 10.8 percent.
- There were 6.4 months of inventory based on closed sales, while there were 9.3 months of inventory based on pending sales.
- The median price was $149,000.