Westfield, IN

Here is a look at what happened on the Westfield real estate market for October 2009:

For some reason, we are not seeing the big shift in numbers in Westfield like we are seeing in other areas that are inevitably linked to the tax credit. The number of homes sold is better than the YTD average but it is still less than last year which is a shock because we have seen other areas show dramatic swings in their numbers.
If you are looking to buy or sell a home, please visit our Westfield Indiana real estate or our Indianapolis real estate website for more information and to search all homes for sale. You may be interested in either Maple Knoll Westfield or Merrimac homes in Westfield, two of Westfield’s most popular subdivisions.

According to the National Association of REALTORS® Government Affairs Division, Congress has extended and expanded the First time homebuyer tax credit. The following chart is an overview or you can listen to the podcast:

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First time homebuyer home search

Westfield Market Update - October

What's the housing market look like in Westfield IN? According to the Metropolitan Board of Realtors, there were 483 single family homes and condominiums on the market in Westfield, IN., at the end of October, which is a 16% decrease from the same period last year. In October of 2008, there were 573 active listings. The average list price in the area was $245,873 and the average sales price was $234,565.

During the month of October there were 59 homes that sold averaging 95 days on the market, a slowdown from October 08, which averaged 68 days on the market. Recent sales may be indicators of perceived value. Additionally, there were 40 pended sales or homes ‘under contract' waiting completion. Sellers are receiving an average of 95.5% of list price which is slightly less than October 08. The market has slowed down, as evidenced by the number of days on the market. The following chart gives a comparison of October 2009 to October 2008:

For previous months click here

*DOM - days on market

Figures were pulled from the MLS 11/04/2009

Here is what happened on the Westfield Indiana real estate market for September 2009:

The number of homes sold in Westfield is significantly fewer than say Carmel or Fishers so it may be more apt to show drastic swings from month to month. Whereas last month we saw a 22% increase in the number of homes sold; this month we see a 35% decrease in the number of homes sold in Westfield. The average sales price increased 4% over last years number. YTD we are seeing a 23% decrease in the number of homes sold and actually a 1% increase in average sales price. Not too bad…considering.

If you are looking at buying or selling a home in Westfield, please visit our Westfield Indiana homes website for more information. You may want to look at some of Westfield’s most popular neighborhoods including Centennial in Westfield and Countryside homes Westfield.

Here is a look at the Westfield Indiana real estate market report for July 2009:

I tell you what, sometimes I just don’t know what to make out of this market. The Fishers and Zionsville reports were terrible this month, Noblesville was mixed and here is the belle of the ball Westfield with an increase in both number of units sold and average sales price. In addition, the absorption rate for Westfield is a very healthy 6.93. Let’s hope this continues.

If you are considering purchasing or selling a home, please visit our Westfield real estate website for more info on the Westfield real estate market. You may also be interested in a few of the more popular communities in Westfield including Merrimac homes and Centennial Westfield.