An interesting, first-ever report of its kind was recently published on the website Indiana Is Home by the Indiana Association of Realtors®. With 98% of county data represented across Indiana, this report compared the number of homes sold and selling prices from the month of July, 2008 to the same month in 2009.
Coinciding with the general decline of our economy, there was a decrease in home sales statewide from 2008 to 2009. And while the Indianapolis real estate market didn’t fare that well overall, how did Hamilton County stack up? Reflecting a little better than average numbers, Hamilton County showed a 4.1% decrease in the number of homes sold from July to July with 463 sold in 2008 and 444 sold a year later. A 9.1% decrease was also felt in the median selling price of homes, dropping to $190,450 from $209,500.
Comparably, Noblesville homes in this same period of time felt an even further decline. MIBOR relfects that there was an 11.3% decrease in the number of Noblesville homes sold during those comparable July months with 88 homes sold in 2008 compared to 78 sold in 2009. The current market shows that there are 578 Noblesville homes for sale.
When moving to the area, there are still a wide array of Noblesville homes to choose from; there are all kinds of properties, from $3.7 million homes located on Morse Reservoir to homes listed for only $30,000. Recent sold activity shows that for every 7 homes listed, one is likely to sell. So how do you grab the attention of buyers currently looking to move to a suburb of Indianapolis? It’s important to strategize even before you put your home on the market by doing the following:
Look for a track record. Ask around your neighborhood about a REALTOR® who has recently sold homes in your Noblesville real estate market. Not only will they have experience in your region of the city, but they will also more likely know about your competition and what it takes to stand out.
Pricing is everything. After you’ve chosen a REALTOR® you want to work with, spend some quality time with him or her talking about setting the right price for your home. In today’s buyer’s market, listing a home that is appropriately priced from the beginning can mean the difference between selling your home now or a year from now.
Think about a home warranty. In another effort to stand out against the competition, consider offering a home warranty with the purchase of your home. Sometimes costing under $400, a home warranty can mean peace of mind for your future buyers, which can be the little extra they need to choose your home over one down the street.
While this first-ever report published by Indiana is Home didn’t necessarily show an increase in home sales yet, it did show that the decrease is slowing down, which is good news. For now, you can ride out the decline by making sure you talk with your Noblesville REALTOR® about these tips and others to help sell your home quickly.