Noblesville Real Estate Report - March 2007

New Listings

 Noblesville real estate had 206 new listings with an average list price $286,923 in March 2007.    In March of 2006 Noblesville had 188 new listings  with an average list price of $239,307.  For this area, this is a huge increase in average listing price with the average listing price going up over $47,000 or 20% in just one year.  Let’s not get too excited, anyone can ask anything they want their house;  until it sells it means nothing.

Pending

 In March 2007, 83 Noblesville homes went pending with an average list price of $207,452, compared to March 2006 when 95 Noblesville homes went pending with an average list price of $183,653.  This is still great news for the Noblesville real estate market, with an increased list price of $23,799 or almost 13% in one year.    

Sold

 Here is where it gets a little confusing.  In March 2007, Noblesville had 54 homes close with an average sales price of  $174,452.  The average home took 96 days to sell and sold for 96.11% of the asking price.  In March 2006,  90 Noblesville homes closed with an average sales price of $178,722.  The average Noblesville home in March 2006 took 91 days to sell and sold for 97.35% of the asking price.  Yes, the average sales price went down by $4,270.

Summary

 What does this mean?  It looks like to me Noblesville is about to see a big jump in home prices.  Yes, the sold prices are lower than last year, however, if you look at the pending homes and the homes on the market both are well above last years numbers.  Sold homes represented what happened in the past, while the pending homes and homes currently on the market are somewhat of a good indicator of what is to come.  I think Noblesville is starting to catch up to Carmel, Fishers, and Westfield in popularity because of many factors including affordability.  Let me know what you think..

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