The Noblesville real estate market posted some nice numbers in March of 2011. A total of 64 closings took place in March compared to the previous month’s total of 58—a 10.3-percent increase. As nice as it is to have an increase in sales, it nevertheless represents a 39.6-percent decrease versus last March’s total of 106 sales. Also, from January through March of 2011 there were, on average, just 57 sales per month, or 24 percent fewer, compared to this same period last year, when the average was 75 per month.
In the department of pending sales there was a 54.2-percent increase as there were 91 transactions with a “pending” status in March compared to just 59 the previous month. Versus last March’s total of 144, however, this represents a 36.8-percent decrease in total pending sales. And from January through March of 2011 there were, on average, just 71 pending sales per month, or 31.1 percent fewer, compared to this same quarter 1 year ago.
Noblesville Indiana buyers had just a few more choices in March as there were 608 homes listed for sale compared to 601 in February—a very modest 1.2-percent increase. The good news is that, compared to last March’s total of 710 listings, this is a 14.4-percent decrease in the total number of Noblesville homes for sale. Also, there were 10.3 percent fewer homes listed for sale per month, on average, from January through March compared to this same quarter 1 year ago.
Other Noblesville market stats:
- The absorption rate based on closed sales rose 0.8 percent versus the previous month’s figure of 9.7. The absorption rate based on pending sales rose an even greater 5.2 percent over this same period, measuring an even 15 percent.
- There were 9.5 months of inventory based on closed sales and 6.7 months of inventory based on pending sales.
- March’s median price of $150,000 was nearly 12 percent above the previous month and unchanged versus the 12-month average, which is also $150,000.
For up-to-date stats, including illustrative charts and graphs, please visit the 2-year Noblesville real estate market statistics report here.