Named the Forbes.com No. 1 pick for Best Places to Raise a Family in 2008, Hamilton County, Indiana continues to garner awards as one of the top places in the nation to live. Affordable housing, excellent schools, low crime, plenty of cultural and recreational opportunities, and easy access to the big city life of Indianapolis make Hamilton County real estate attractive to young families, retirees, and everyone in between.
Within Hamilton County, the towns of Carmel, Fishers, Noblesville and Westfield have all earned individual recognition on CNNMoney.com’s list of 100 Best Places to Live in the U.S. , which is impressive enough by itself. But there’s more. In the past two years, Fishers has also won the No.1 spot on the lists of Best Suburbs for Retirement and Top 10 Cities for Families, and placed on the lists of Best Affordable Suburbs in the U.S., Top 100 Places to Live in 2010, and Best Places to Move in the Country. Sperling’s BestPlaces.net recognized Carmel as one of the Best Cities to Relocate To, while Noblesville has been named a Best Town for Families and an All-America City Finalist.
But all this well-deserved recognition doesn’t mean real estate in Hamilton County has escaped the housing market havoc endured by the rest of the country. The July Local Market Update released by the Metropolitan Indianapolis Board of REALTORS shows improvement in some areas for Hamilton County real estate, and some struggle in others. Most notable was a 32% increase in Closed Sales for the month of July 2011 as compared to July 2010. Most other numbers were down from a year ago, including a 5.2% decrease in Median Sale Price (220,000 in July 2011) and a 1.9% decrease in List to Sale Price. Inventory was up 10.3% to a 9.2 month supply.
In the July 2011 to July 2010 comparison, Fishers real estate fared the best of the Hamilton County towns noted as one of CNNMoney.com’s Best Places to Live, making gains in Closed Sales and Median Sales Price, and holding steady in Average Days on Market (85). Carmel homes Closed Sales increased by 16% as compared to a year ago, while the Average Days on the Market decreased slightly from 86 in July 2010 to 82 in July 2011. Closed Sales for Westfield properties were up 19% from the same time period a year ago. Noblesville real estate lost ground in all categories, although minimally in most, including a 1.6% drop in Closed Sales and 4.02% decrease in Median Sales Price.
As with most real estate markets throughout the nation, there’s still much progress to be made before the Hamilton County real estate market fully recovers. But in the meantime, you can be sure Hamilton County will remain a great place to live, work, and play.