Like most towns and cities in the Central Indiana area, the city of Noblesville made great strides in 2012 compared to 2011, at least insofar as three major stats were concerned: closed sales, pending sales and listings. Starting with closed sales, a total of 1,188 closings took place in 2012 versus a total of 939 in 2011. This corresponds to an average of 99 closings per month, or 26.9 percent more for all of 2012, compared to just 78 closings per month for all of 2011. An average of 97 closings too place each month during the last quarter of 2012, or 40.6 percent more, compared to an average of just 69 per month during this same quarter in 2011. In sum, there were 249 more homes sold in 2012 compared to 2011.
Pending sales were also on the rise in 2012. Specifically, a total of 1,182 pending sales were reported by year’s end in 2012 compared to the previous year’s total of just 964. This translates to an average of 99 pending sales per month, or 23.8 percent more, for 2012 compared to just 80 per month for 2011. In another comparison, from October through December of 2012, there were an average of 85 pending sales reported per month, or 19.7 percent more, compared to an average of 71 per month during this same quarter in 2011. In all, there were 218 more pending sales reported in 2012 compared to 2011.
The numbers for total listings also looked good. In 2012, there were 15 percent fewer homes on the Noblesville compared to 2011, or 6,584 versus 7,747 respectively. An average of 549 homes were listed for sale each month for all of 2012 compared to an average of 646 for all of 2011. From October through December of 2012, there were on average 495 homes for sale per month, or 18.3 percent fewer, compared to an average of 606 per month during this same quarter in 2011. The bottom line is that there were 1,163 fewer listings on the market in 2012 compared to 2011.
Some other Noblesville real estate market stats:
- Homes in Noblesville spent an average 94 days on the market in 2012 compared to an average of 102 days in 2012. This represents an improvement 7.8 percent.
- Based on original asking price, the sold-list difference was 90 percent in 2012 and 89 percent in 2011. The sold-list difference based on final asking price for all of 2012 was 96 percent. This was unchanged versus 2011.
- The average price per square foot rose 2.9 percent, from $70 in 2011 to $72 in 2012.
- The average ‘sold’ price of $180,000 was down only slightly versus the 2011 average of $181,000. The average active price of $252,000 was also down only slightly versus the 2011 average of $253,000.
- The absorption rate based on closed sales was 18 percent in 2012, and 12 percent in 2011. Based on pending sales the absorption rate was also 18 percent in 2012 and 12 percent in 2011.
- On average, there were 6 months of inventory based on both closed and pending sales in 2012. These represent improvements versus the 2011 averages of 9 and 8 percent respectively.
- The 2012 median home price in Noblesville fell 7.8 percent, from $102,000 in 2011 to $94,000 in 2012.