Column: Westfield home prices decrease 3.2 percent

Central Indiana’s residential real estate sales stay steady, according to statistics compiled by F.C. Tucker Company. In November, despite having 1,899 fewer homes on the market from which to choose, pended home sales increased 7.6 percent compared to November 2015. The average sales price increased 3 percent year-to-date to $188,072.

Hamilton County’s pended sales increased 2.6 percent in November 2016 compared to November 2015. Prices also have increased by 3.3 percent over last year to an average of $286,374. The number of available homes for sale, however, continues to decline in the region; inventory in Hamilton County slid 7.2 percent in November, a drop of 121 homes available compared to this time last year.

  • In Westfield, the average home sales price decreased 3.2 percent year-to-date to $304,363.
  • Inventory moved at a faster pace in Westfield in November 2016. Overall, homes sold in 55 days – 13 fewer days than this time last year.
  • Buyers in Westfield had fewer options available to them. Last month, 223 homes were available for sale – 11 fewer homes compared to November 2015.
  • Pended home sales increased in Westfield. In November 2016, 57 homes sold – an increase of 10 homes compared to November 2015.
  • Of the pended home sales in Westfield last month, 10 were priced $500,000 to $999,999; seven were priced $300,000 to $499,999; 22 were priced $200,000 to $299,999 and 18 were priced $100,000 to $199,999.

Inventory will continue to be tight, and buyers will need to continue to be decisive. In this fast-paced market, multiple offers should be expected.