Column: Home sales up 5.6 percent
With average home prices reaching $178,606, year-to-date sales prices increased by 5.6 percent in the nine counties that F.C. Tucker tracks. Tucker’s data indicates that seven counties experienced slightly higher home sales prices than in May 2014. Hamilton County was among the areas where sales increased – rising by 4.6 percent to $272,722.
- Westfield is among the areas where prices are trending up. For the first five months of this year, sale prices averaged $297,952, an increase of 9.1 percent compared to the same time period last year.
- Of the pended home sales in Westfield, one was priced $1,000,000 to $1,999,999; three were priced $500,000 to $999,999; 12 were priced $300,000 to $499,999; 26 were priced $200,000 to 299,999 and 36 were priced $100,000 to $199,999.
- Homes in Westfield are selling at a slower pace. Year to date, homes are staying on the market 72 days, an increase of eight days compared to last year.
- Home buyers in Westfield are discovering fewer options. Last month, 237 homes were available, a decline of 14 homes compared to May 2014.
- On a monthly basis, pended home sales slipped in Westfield. In May 2015, 78 homes pended, slipping by 26 homes compared to May 2014.
With 2,910 pended sales in May in Central Indiana, overall year-to-date home sales are up 9 percent compared to this time period last year. On a monthly basis, May 2015 pended home sales slipped 3.9 percent compared to May 2014, a decline of 117 homes sold.
With only 3.8 months of inventory available in Central Indiana, we’re definitely experiencing a seller’s market. Sellers are benefitting from rising prices as inventory continues to tighten.