Noblesville Real Estate Report

Signs of spring were evident in February’s real estate statistics for Noblesville, Indiana. There were 68 homes sold in February compared to just 39 the previous month.  Home sales were also up compared to February of last year when there were a total of 51 homes sold.  The number of pending sales was also up 49.2 percent with 88 in February compared to just 59 in January.  Last year in February there were 83 pending sales.  The total number of Noblesville homes for sale also rose to 669 from last month’s total of 641.

Homes spent an average of 83 days on market compared to 91 days in February last year—a slight improvement.  The sold-list differential remained unchanged from last month at 96 percent.  Over the past 12-months, the sold-list differential has averaged 95.2 percent of list.

Buyers paid an average of $71 per square foot or 10 percent more than last February’s average of $61.  The average cost per square foot over the past 12 months is $69.40.  Meanwhile, the average ‘sold’ price of $179,000 was up 7.8 percent over January’s average of $166,000 and up 15.4 percent compared to $155,000 in February of 2009. The 12-month average ‘sold’ price 168,300.

The average active price of $288,000 was up 1.4 percent in February compared to $284,000 the previous month.  The average active price Last February was $297,000 while the 12-month average was $297,600.

Looking at the statistics for the Noblesville real estate market over the past year what stands out the most is the fact that the total number of homes sold in January was a 15-month low.  Other than this one metric, things are pretty much in line with last year’s averages.