It was evident that the Noblesville real estate market had finally succumbed to the cooling effects of fall in September, as both closed and pending sales figures suffered significant losses. Starting with total sales, there were just 64 closings in September compared to 115 just one month prior, making it a 44.3-percent decrease on the month. Compared to last September’s total of 77, however, the loss is a far less severe 16.9 percent. On the bright side, the average of 85 closings per month that occurred from July through September of this year represents a 7.6-percent increase compared to this same quarter 1 year ago.
Total pending sales fell 27.6 percent, from 76 in August to just 55 in September. A much larger, 37.5-percent drop-off could be seen in comparison to last September’s total of 88 pending sales. From July through September of this year there were, on average, 18.4 percent fewer pending sales versus this same quarter 1 year ago.
As if the market needed more listings, there was a 0.4-percent increase in the number of Noblesville listings, from 688 in August to 691 in September. This is somewhat of a contrast to the neighboring Indianapolis real estate market, which saw a 3.2-percent drop in total listings during this same period. Compared to last September’s total of 776, however, this represents a much needed 11-percent decrease in total listings. From July through September of this year, the Noblesville real estate market saw an average of 12.7 percent fewer homes for sale on a monthly basis compared to this same quarter last year.
Some other pertinent Noblesville real estate market stats:
- Homes in Noblesville Indiana spent an average of 114 days on the market in September, up nearly 41 percent versus the previous month’s total of 81 and up 8.6 percent versus the 12-month average time of 105 days. In fact, over the past 12 months, homes in Noblesville on average have never spent fewer than 81 days on the market.
- 118 of the 691 homes on the market in Noblesville were new listings. This is down 14.5 percent versus the previous month’s total of 138. The 12-month average number of new listings in Noblesville is 137.
- The absorption rate was 9.3 percent based on closed sales and 9.3 percent based on pending sales.
- The average price per square foot was $69.
- The median price was $151,000.