Residential real estate in Noblesville and Hamilton County saw a very active April, with sales and home prices continuing to increase.
According to F.C. Tucker Company, Noblesville closed home sales increased 8.9 percent in April 2021, and homes left the market very quickly, selling 36 days faster than this time last year. The average Noblesville home sale price also increased – up 13.1 percent to an average price of $342,723.
Hamilton County home sales increased 24.3 percent compared to this time last year. The average price for a home in Hamilton County also increased, up 13.3 percent, to an average sale price of $397,821. Available housing inventory in Hamilton County continued to decrease significantly – down 77.1 percent compared to this time last year.
The April residential real estate market continued at a brisk pace, despite decreases in available housing inventory. Monthly real estate statistics from F.C. Tucker Company revealed that pended home sales increased 29.9 percent compared to this time last year, year-to-date home prices increased 12.4 percent, and available housing inventory decreased 58.7 percent.
· The average April 2021 home sale price for the 16-county central Indiana region was $280,434, an increase of 16 percent.
· Available housing inventory dropped 58.7 percent compared to April 2020.
· Pended home sales increased 29.9 percent compared to this time last year.
In April 2021, 4,039 central Indiana homes were purchased, up 29.9 percent from the 3,110 sold in April 2020. Specifically:
· Bartholomew County showed the greatest increase in pended home sales with 92.9 percent growth compared to April 2020.
· Putnam County pended sales had the greatest decrease with 16 percent fewer homes sold in April 2021 compared to this time last year.
Home sale prices continued their upward climb in April:
· Shelby County recorded the highest average year-to-date home sale price increase at 29.4 percent.
· Boone County had the highest average home sale price in the region at $416,519.
· Homes sold in 26 days on average, 43.5 percent faster than in 2020. Jackson County homes left the market 43 days faster than in April 2020 - the greatest decrease of the 16-county central Indiana area.
Central Indiana experienced a 58.7 percent decrease in home inventory in April 2021. That represents 2,570 fewer homes available for sale than in April 2020. Every county saw home inventory decreases of 42.5 percent or higher, and 13 of the 16 counties saw inventory decreases of 52.1 percent or higher.
· Decatur County had the lowest inventory decrease – 42.5 percent – compared to April 2020.
· Hamilton County inventory decreased the most significantly in central Indiana – 77.1 percent – compared to this time last year.
“Sellers were in the driver’s seat in the month of April, as competition in the market continues to heat up in response to low inventory,” said Jim Litten, CEO of F.C. Tucker Company. “My message to homeowners considering selling would be ‘there’s never going to be a better time than now if you have the flexibility to sell.’”
Of the pended home sales in the region last month, 11 were priced $2,000,000 or higher; 38 were priced $1,000,000 to $1,999,999; 326 were priced $500,000 to $999,999; 903 were priced $300,000 to $499,999; 1,182 were priced $200,000 to $299,999; 1,237 were priced $100,000 to $199,999; and 342 were priced at $99,999 or less.