Noblesville and Hamilton County continued to see robust residential real estate markets in March 2021.
According to F.C. Tucker Company, Noblesville closed home sales decreased 35 percent in March 2021. However, homes left the market very quickly, selling 29 days faster than this time last year. The average Noblesville home sale price also increased – up 11.5 percent to an average price of $323,461.
Hamilton County home sales increased 4.4 percent compared to March 2020. The average price for a home in Hamilton County also increased, up 10.3 percent, to an average sale price of $384,240. Available housing inventory in Hamilton County continued to decrease significantly – down 73.7 percent compared to this time last year.
Central Indiana’s March residential real estate market continued to strengthen with robust home sales and increasing prices. Monthly real estate statistics from F.C. Tucker Company revealed that year-to-date home prices increased 10.6 percent, while available housing inventory decreased 61.1 percent.
· The average March 2021 home sale price for the 16-county central Indiana region was $259,298, an increase of 8.2 percent.
· Available housing inventory dropped 61.1 percent compared to March 2020.
· Pended home sales increased 6.9 percent compared to this time last year.
In March 2021, 3,786 central Indiana homes were purchased, up 6.9 percent from the 3,540 sold in March 2020. Specifically:
· Hancock County showed the greatest increase in pended home sales with 44.5 percent growth compared to March 2020.
· Putnam County pended sales had the greatest decrease with 22.8 percent fewer homes sold in March 2021 compared to this time last year.
Home sale prices continued their upward climb in March:
· Shelby County recorded the highest average year-to-date home sale price increase at 66.1 percent.
· Hamilton County had the highest average home sale price in the region at $384,240.
· Homes sold in 29 days on average, 42 percent faster than in 2020. Jackson County homes left the market 52 days faster than in March 2020 - the greatest decrease of the 16-county central Indiana area.
Central Indiana experienced a 61.1 percent decrease in home inventory in March 2021. That represents 2,687 fewer homes available for sale than in March 2020. Every county saw home inventory decreases of 23.3 percent or higher, and 12 of the 16 counties saw inventory decreases of 62.5 percent or higher.
· Jennings County had the lowest inventory decrease – 23.3 percent – compared to March 2020.
· Hendricks County inventory decreased the most significantly in central Indiana – 78.8 percent – compared to this time last year.
“Despite the dramatic decreases in inventory, home sales continued at a brisk pace in March,” said Jim Litten, CEO of F.C. Tucker Company. “With spring and summer typically being a busy time for the residential real estate market, it will be interesting to see if this seller’s market continues its upward climb during the next few months.”
Of the pended home sales in the region last month, 1 was priced $2,000,000 or higher; 38 were priced $1,000,000 to $1,999,999; 286 were priced $500,000 to $999,999; 844 were priced $300,000 to $499,999; 1,091 were priced $200,000 to $299,999; 1,189 were priced $100,000 to $199,999; and 337 were priced at $99,999 or less.