How the Noblesville real estate market could be said to improve when both total sales and pending sales were down versus the previous month may not be readily apparent at first. Total sales, for example, fell 24.7 percent, from 85 in December, 2011 to just 64 in January. The thing about this, though, is that it, A) Is to be expected given this time of year is historically slow for virtually all of Central Indiana and B) represents a 28-percent increase versus where the Noblesville market was just 1 year ago. So, all in all, the market can be said to have improved. In fact, this general theme held true for at least two other key stats: total pending sales and total listings.
While total pending sales fell 2.9 percent, from 70 in December of 2011 to 68 in January, this nevertheless represents a decent 6.3-percent improvement compared to last January’s total of 64. The average number of pending sales on a per-month basis also climbed 9.1 percent from November, 2011 through January of 2012 compared to this same period 1 year ago.
There were 524 homes for sale in Noblesville during January, making it a 4.4-percent decrease versus the previous month’s total of 548. Further still, compared to last January’s total of 602 this is a far greater 13-percent decrease in the number of listings on the market in Noblesville Indiana. To compared this to the nearest major metro area: There were 2.4 percent fewer homes for sale in Indianapolis, IN versus December of 2011 and 17 percent fewer listings versus 1 year ago. The average number of homes listed per month from November of 2011 through January of this year was down 12 percent relative to this same period 1 year ago, or 559 versus 635 respectively.
Some other Noteworthy Noblesville Real Estate Market Statistics:
- Homes in Noblesville spent an average of 99 days on the market in January, up 12.5 percent compared to December’s average of 88 days. However, January’s average represents a 16-percent improvement in this statistical category versus last year’s average of 118 days during the month of January. The 12-month average is 101 days in Noblesville.
- The average active price was $232,000. This is down 7.2 percent versus last January’s average active price of $250,000.
- The average ‘sold’ price checked in at $169,000, down 2.3 percent versus last January’s average of $73,000.
- The absorption rate was 12.2 percent based on closed sales and 13 percent based on pending sales.