Westfield Indiana Real Estate - Market Report November 2011

Posted by Mike Taylor on Wednesday, December 14th, 2011 at 9:50am

Let’s continue our look at the Hamilton County market and focus on the Westfield Indiana real estate market today. Here are the numbers for Westfield Indiana homes for sale for November 2011:

 
2010
2011
% Change
Active N/A 222
Homes Sold 27 27 0%
Average Selling Price $261,162 $219,141 -16%
Days on Market 99 104 5%
Price Per Square Foot $13 $95 631%
Sales Price / List Price 95% 96% 1%

 

And a YTD look:

 
Number of Homes Sold

Average Sales Price
 
                 
 
2009
2010
2011
% Change
2009
2010
2011
% Change
 


 



 

Jan. 26 17 18 6% $219,693 $217,463 $234,039 8%
Feb. 22 23 19 -17% $271,989 $250,901 $199,813 -20%
March 40 41 34 -17% $223,025 $214,250 $227,317 6%
April 32 50 41 -18% $270,734 $218,450 $209,291 -4%
May 44 41 42 2% $268,269 $216,181 $168,219 -22%
June 66 47 43 -9% $219,185 $260,125 $204,417 -21%
July 59 36 36 0% $251,787 $265,700 $238,390 -10%
Aug. 51 29 47 62% $223,102 $249,708 $222,001 -11%
Sept. 40 23 33 43% $253,396 $227,573 $210,633 -7%
Oct. 42 31 31 0% $207,803 $226,076 $247,539 9%
Nov. 45 27 27 0% $242,892 $261,162 $219,141 -16%
Dec.
Totals 467 365 371 1.62% $238,924 $236,614 $214,910 -9.17%


And our 3 year price graph:


The Westfield Indiana real estate market is a little harder to judge than Carmel or Fishers because so many fewer homes sell in Westfield versus Carmel or Fishers. That being said, this month saw a push in the number of homes sold versus last year and a 16% decrease in the average sales price. Because of the fewer number of homes that have sold, it is that much more important to look at the YTD for the Westfield market. Here we see an increase of 1.62% in the number of homes sold and a decrease of 9% in the average sales price. Despite the decrease in sales price, the fundamentals of the market remain strong for Westfield as we are currently seeing a 6.63 months’ supply of homes on the market. This is indicative of a stable market.