Real estate update: Noblesville

The spring market has arrived, and we are excited to present the latest market update. During the last month, 119 homes have sold in the Noblesville market at an average price of $233,000, which represents a 2 percent decrease over the same period in 2016. Limited inventory has continued to put upward pressure on prices throughout our market, although that has not affected Noblesville.

Median prices have dropped since this time last year. Homes were, on average, on the market for 77 days and sold for an average of 96 percent of list prices. Our market continues to be active and buyer demand remains strong, resulting in a modest 11 percent increase of total sales.

The interaction between inventory and prices will be one we monitor closely throughout summer.

Karen Tanner and Annie Schweiger are brokers with Bonwell Tanner Group. They have a combined industry experience of 14 years. Bonwell Tanner is a full-time, full-service real estate team. For more, call 317-361-6333.

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