New Subdivisions in Pendleton, IN
There are a few new subdivisions in Pendleton, IN. And, even additions to existing subdivisions on the horizon. The new build options could help satisfy at least a portion of the demand that has gone unmet for housing in the area.
Supply and Demand
For quite sometime, the inventory of available homes in Pendleton has been very low. The local REALTOR association reported only 1.3 months worth of inventory at the end of May, placing us firmly in a Sellers Market. This means, if no more homes came on the market, we would run out of inventory to meet the demand in only 1.3 months.
A Seller’s Market is defined as 0 to around 3 months of inventory; a neutral market is approximately 4 to 6 months worth of inventory; and 6+ months of inventory indicates a Buyer’s Market.
Builders are jumping to help meet the demand! According to Shelley Specchio, the Metropolitan Indianapolis Board of REALTORS CEO, “… evidence of pent up demand is seen in the record number of pending sales with an increase of 46.2 percent from last month. Despite our current atmosphere, these numbers indicate that many are still eager to buy…”
Because the supply of available homes for sale has been so low for months and even years, buyers are seeing multiple offers become the norm for existing homes when they hit the market. These new subdivisions in Pendleton could ease the problem, locally – at least for some.
Carrick Glen subdivision is going in on North Pendleton Ave, just north of the Red Barn entrance to Falls Park. The builder is Westport Homes/DR Horton. The model is going up right now and is expected to be complete within the next 60 days or so. This neighborhood will have ponds, sidewalks and a playground.
Ranch and 2 story designs are available starting at $199,900 and range in square footage from 1,583 up to 3,082.
This neighborhood is in a very desirable area, just north of town and is sure to sell out phase one lots pretty quickly.
The Falls at Pendleton
The Falls at Pendleton subdivision is going in off old state road 132, just northwest of town. It’s a small neighborhood of 56 lots by builder Silverthorne Homes.
The homes start at the $220,000’s with 8 floorplans (named after Presidents) available.
They include ranch and two story homes with the “Harrison” the largest 2 story model with up to 3,477 square feet.
For Ranch homes, the “Reagan” and the “Eisenhower” both have lots of options and can be over 3,000 square feet.
All are very aesthetically pleasing with many different elevations to choose from for Ranch and 2 story designs. They are selling lots and homes right now!
These subdivisions are just minutes from everything Pendleton has to offer including Falls Park, historic downtown and the library, as well as from I-69 and State Road 67. Getting to Noblesville, Fishers or Anderson is quick and easy!
Huntzinger Farm, located just southeast of State Road 67 heading north into Pendleton is getting a new addition. Arbor Homes is adding to the existing subdivision of ranch and two story homes with many floorplans to choose from!
Each time a new section of Huntzinger Farm has opened, it has sold out pretty quickly. Arbor Homes is an affordable builder and this neighborhood is HOT!
A little farther out from Pendleton proper, Arbor Homes also has a new subdivision – Maple Trails – near Maple Ridge Elementary School.
These homes start from the $160,000’s with 11 floorplans available. The lots are about halfway sold out but there are still some great ones to choose from.
Great proximity to the school, Pendleton and Fortville and Hamilton Town Center with all its action is only the next exit south on I-69.
It’s the best of all worlds!
The Real Estate Pros and New Home Building
We are here for you! Remember, when you build a new home, you should still have representation. The salesperson at the model homes represents the builder, not you.
The Real Estate Pros are committed to helping you during the process of building a new home.
Call us BEFORE you visit any model homes or call anyone. We can make sure your best interests are protected!