Noblesville Real Estate Update November

Posted by Mike Taylor on Tuesday, December 15th, 2009 at 2:42pm


Here is the November numbers for the Noblesville Indiana real estate market:

 
2008
2009
% Change
Active
N/A
644

Homes Sold
54
90
67%
Average Selling Price
$195,713
$161,463
-18%
Days on Market
74
72
-3%
Price Per Square Foot
$86
$80
-7%
Sales Price / List Price
95%
97%
2%


Here are the YTD number for Noblesville homes:

 
Number of Homes Sold

Average Sales Price
 
             
 
2008
2009
% Change
2008
2009
% Change
 






Jan.
66
60
-9.09%
$184,856
$178,032
-3.69%
Feb.
58
51
-12.07%
$170,758
$156,016
-8.63%
March
88
82
-6.82%
$201,532
$155,265
-22.96%
April
82
80
-2.44%
$165,806
$155,128
-6.44%
May
90
88
-2.22%
$184,547
$159,090
-13.79%
June
126
112
-11.11%
$177,305
$181,013
2.09%
July
105
97
-7.62%
$179,424
$190,544
6.20%
Aug.
123
96
-21.95%
$182,359
$181,077
-0.70%
Sept.
104
98
-5.77%
$196,191
$170,411
-13.14%
Oct.
68
91
33.82%
$183,068
$162,991
-10.97%
Nov.
54
90
66.67%
$195,713
$161,463
-17.50%
Dec.


 



 






Totals
964
945
-1.97%
$183,778
$168,275
-8.44%


And our month by month average sales price graph:

 

noblesville-real-estate-november_450 


The numbers for the Noblesville real estate market are acting pretty much like the Fishers market this month except with a little more extreme numbers. The number of homes sold is WAY up for Noblesville; showing a 67% increase in the number of units sold over last year. The average sales price took a dip just like Fishers but Noblesville saw a 17% decrease in price over November 2008. The sales price to list price is up to 97% in November which is good and indicative of pretty strong demand. The absorption rate is a little higher than Fishers at 7.47 but still very manageable.

The number of homes sold is almost undoubtedly linked to the tax credit and I believe the dip in average sales price can be too. First time home buyers scooping up the least expensive stuff in the market will temporary drag the average sales price down. We should see the affects of the tax credit for the next few months although we might see a lull in activity after the big push to close because everyone thought it was going to expire.

If you are looking for a home in Noblesville, browse our websites email me or call me at 317-362-4064 and let me know how I can help. You might also want to take a look at our Noblesville foreclosures page and our Fishers Indiana real estate page as well.