Recovery moving in right direction
With 2,457 sales in July in Central Indiana, overall year-to-date home sales are up 19.4 percent compared to this time last year, according to statistics compiled by F.C. Tucker Co.
On a monthly basis, July 2013 home sales fell 0.3 percent compared to July 2012, a slight decrease of seven homes sold in the nine counties that F.C. Tucker tracks. Four counties reported increased sales compared to July 2012.
Specifically in Hamilton County, home sales for the first seven months of 2013 rose 22.3 percent compared to the same time last year. Year to date, Hamilton County home sales soared to 4,280 – an increase of 781 homes from the same time last year. The rise in home sales in Westfield, specifically, isn’t surprising when you consider that it ranked 18th in the nation on CNN Money’s “Best Places to Live” list. Affordable housing, as well as low crime and downtown development, are among the factors that contributed to Westfield’s ranking on the list.
- Westfield experienced an increase in home sales. In July 2013, 78 homes pended – up eight homes compared to July 2012.
- Home prices are up in Westfield. In July 2013, the average home cost $236,661 – an increase of $15,810 from July 2012.
- Of the home sales in Westfield last month, one was priced $1,000,000 to $1,999,999; five were priced $500,000 to $999,999; 17 were priced $300,000 to $499,999; 18 were priced $200,000 to $299,999; 36 were priced $100,000 to $199,999; and one was priced at $99,999 or less.
- Inventory continues to tighten. In July 2013, 257 homes were available for sale in Westfield. In July 2012, 317 homes were on the market.
It’s common for home sales to slow a bit as we move into the second half of the year. Even though sales in some areas pulled back slightly in July, the average home price continued to climb. With competitive prices and shrinking inventory, we believe our housing recovery will continue to move in the right direction.