Column: Inventory smaller, prices higher
Nearly 1,500 homes pended in December, with all but three Central Indiana counties reporting increased sales compared to the same time period last year, according to statistics compiled by F.C. Tucker Company. Overall, December 2014 pended home sales rose to 1,497 over December 2013, an increase of 43 homes sold in the nine counties that F.C. Tucker tracks.
In Hamilton County, pended sales decreased while the sale price increased:
- Last month, pended sales in Hamilton County dipped 13.3 percent to 260 homes compared to 300 homes in December 2013.
- Sale prices in Hamilton County continue to trend up. In December 2014, the average sale price rose to $267,559, which is an increase of 5 percent compared to December 2013.
- In Westfield, 34 homes pended last month, which is four fewer homes than December 2013.
- Inventory in Westfield remains stable. Last month, 174 homes were available for sale – a decrease of three homes compared to December 2013.
- Homes in Westfield are selling fast. In December 2014, homes were available for sale for 62 days – five fewer days than the same time last year.
Overall across Central Indiana, listing inventory continues to fall while home sale prices inch up – positive indications that stabilization continues across our region. We expect this positive movement to continue into the first half of 2015.