The Noblesville real estate market continued its steady descent towards winter as total sales fell 9.9 percent in October, 2011. Versus last October’s total of 67 sales this represents a 4.5-percent decrease. However, when viewed in a different comparison, the average number of closings per month rose 7.7 percent from August through October of this year compared to this same period in 2010.
Total pending sales took a 20-percent hit as there were just 56 in the October pipeline compared to 70 the previous month. Versus last October’s total of 62 this is a 9.7-percent decrease. Also, from August through October of this year there were on average 8 percent fewer pending sales on a per-month basis compared to this same quarter last year, when the average was 75.
One positive development, at least if you were a seller already faced with too much competition, was a 3.98 percent drop in the total number of Noblesville homes for sale. This nearly matches the 4.9-percent drop in Indianapolis homes for sale that occurred during this same time. The 665 Noblesville homes listed in October represents a 7.7-percent decrease versus this same month 1 year ago. There were on average 11.4 percent fewer homes listed for sale per month from August through October of this year compared to this same period last year, when the per-month average was 769.
Some other Noblesville real estate market stats:
- Homes spent an average of 103 days on the market, making it a 2.8-percent improvement versus the previous month’s average of 106 days. The 12-month average time on market in Noblesville Indiana is 106 days.
- Of the 665 homes for sale in October 118 were new listings.
- The absorption rate based on closed sales was 9.6 percent, while the absorption rate based on pending sales was 8.4 percent.
- There were 10.4 months of inventory based on closed sales and 11.9 months of inventory based on pending sales.
- The average ‘sold’ price was $195,000, while the average active price was $249,000.
- The average sold-list differential was $96,000. Perhaps even more telling was the fact that homes on average sold for just 89 percent of their original list price during this same month.
- The median price was $143,000.