There were marked improvements in several key indicators for the Noblesville real estate market in May of 2012, the most striking of which came in the form of a 65.8-percent increase in total sales. May’s total of 126 closings also represents a 20-percent increase versus last year’s total of 105 closings during this same month. On average, a total of 97 closings took place from March through May of this year, or 10.2 percent more, compared to this same 3-month period 1 year ago. This is also nearly 54 percent above the 12-month average of 82 closings per month.
While the total number of pending sales was down nearly 14 percent in May versus the previous month, compared to last May’s total of 100, the most recent figure of 105 represents a 5-percent increase. Even more striking is the fact that this is a 22-percent increase over the 12-month average of 82. Also, the average number of pending sales each month, from March through May of this year was up 12 percent relative to this same quarter last year.
Even though May’s total of 589 listings remained unchanged versus the previous month, compared May of 2011, there were 13.4 percent fewer homes on the market, which means less competition for active sellers. As well, the month average of 577 homes for sale from March through May of this year represents an 11.2-percent decrease in listings relative to this same quarter 1 year ago. Of the 589 homes listed for sale 167, or 28.4 percent, came in the form of new listings. This total is down 14.4 percent compared to last May’s total of 195 new listings. Versus the 12-month average of 134 it is up 24.6 percent.
View the complete, original article here.