As has been the case elsewhere in Central Indiana, the Noblesville real estate market finally put an end to the downward trend in new listings, climbing back from a 5-month low of just 612 listings in December to 641 in January of 2010.
While ‘positive’ in the purely statistical sense of the word, it is hardly positive a step from a seller’s standpoint since the total number of homes sold dropped over 50-percent from 69 sales in December to just 33 in January of 2010. Pending sales also dropped a bit from 59 to 53.
But all was not bad as the average time spent on market by Noblesville homes for sale dropped from a 5-month high of 101 days in December to just 89 in January, 2010. Sellers on average realized 95-percent of their sales price at closing, with the average sold price coming in at a respectable $177,000.
The city of Noblesville, Indiana is a rapidly growing city, maybe one of the fastest in the Midwest. I would expect the market to get better as more and more potential homebuyers realize the affordable cost of living in Noblesville, combined with it’s reasonable real estate prices, translates into more ‘bang for the buck’.