The total number of monthly pending sales in Noblesville, Indiana began to rise significantly in February and continued this rise in March with 130 pending sales. In fact, not only is March’s total for pending sales a 15-month high, no other month came within 19 percent of matching this total.
But unlike other Central Indiana cities wherein such a significant rise in pending sales was often correlated with a decrease in actual sales, there was an increase in the number of Noblesville homes sold, with 80 recorded sales in March compared to 77 the previous month.
There was also a 6.1-percent increase in the total number of Noblesville homes for sale as there were 710 listings in March compared to 669 the previous month. While this is a 16-percent increase over the 12-month low of 612 that was set in December of 2009 it is down 3.9 percent from a 15-month high of 739 listings that was set in September of 2009.
There was a 58-percent increase in the average time spent on market, with homes spending a 15-month high 125 days on market compared to 79 in February. The least amount of time spent on market over the past 15 months was 56 days in September, 2009.
The average price per square foot for Noblesville real estate has not varied greatly over the past 15 months, and at $72, remained unchanged from the previous month. Coincidentally, the 12-month average was also $72.
Naturally, with such a rise in the number of pending sales there was a corresponding rise in the absorption rate based on pending sales, from 14.1 in February to 18.3 in March.
With the 6.1-percent increase in the number of listings the absorption rate based o n closed sales actually dropped a bit, from 11.5 in February to 11.3 in March.