The neighborhood of Timberon, located in Northwest Allen county Indiana, has 153 homesites that were developed and built by Lancia Homes. Building of the single family homes started in early 2001 and offer between 1200 sq foot ranches up through 2100 sq feet 2 stories. It is served by Hickory Center elementary, Carroll middle school and Northwest Allen county school's only High School, Carroll High School.
Timberon followed much the same trend in sales price that all of Northwest Allen county did in returning to 2005/2006 levels. The average sales price of $126,826 for 2011 represents nearly a 3% increase from 2010 and the 2nd highest rate in the last 10 years. Second only to 2006. There are currently 3 homes in Timberon for sale with an average sales price of $124,433, I anticipate prices to remain solid through 2012 if current demand continues and interest rates stay at historic levels.
Timberon 10yr Data
With the current absorption rate and less than 4 months of supply, the inventory levels are trending towards favoring sellers in Timberon unless more inventory comes in to the market as we head towards Spring. Factors including these and the still low interests rates should continue to hold Days on Market to a favorable number.
Please contact me if you have a home in Timberon or Northwest Allen county and would like the latest market information. Don't make a decision about buying or selling a home in Northwest Allen county without all the current market conditions.