Chris Knight: All right, let's jump into our market report and take a quick look at what's happening in Noblesville, Indiana. We'll cover where rents are trending, how quickly homes are moving, and what rental owners and investors should be paying attention to right now. Let's jump into Noblesville, Indiana.

All right, here we go. Let's jump into one of my favorite markets. Everyone who's watched this podcast knows right away how excited I get when we talk about Noblesville, Indiana, because it is a stellar rental market to be a part of. It's a stellar real estate market to be a part of.

And don't worry, we'll get into the brother-sister family relation of Greenwood, Indiana later here in the podcast. But right now, we're going to jump into Noblesville. Let's see what's going on with this month's market report.

The average rental price here in Noblesville, Indiana is $2,115, which is up month over month 0.24%, up year over year by 0.71%. We got that awesome graph there in the bottom left-hand corner, which is going to show you where that's trending year over year, which is an awesome data point to have.

Your average days on market is at an extremely healthy 30. I mean, that's down 21% month over month, down 16% year over year. That is an awesome number to see. If you're working with a well-established property management company, dare I say Red Door Property Management, you're even smashing 30 days on the market. Let's go.

Number of active homes, we've got 85 of those. We even have more active homes, but fewer days on the market. This is incredible. Average price per square foot is at $1.08.

Now, our apartments and townhomes and condos, I love you guys all the same, but I like to blaze through these two next lines, so let's do it.

Apartments here in Noblesville, Indiana, the average rental rate is $1,618, with 38 of those currently active on the market, with an average price per square foot at $1.56.

Now your townhomes and condos there in the third line, average rental price at $2,250, with 28 days on the market, and 11 of those currently on the market, with an average price per square foot at $1.37.

Now the three staple graphs there at the bottom, which are awesome to see where trends are year over year. So let's take a quick look at those and see if there's anything really noteworthy.

We've got average rent price, which is trending over last year. That's what everybody wants to see. Your average days on market trend, trending lower than where we were last year. That's what everyone wants to see.

Your average number of active homes trend, so you can continue to purchase homes in the Noblesville area and still see stellar numbers like your average rent price and your average days on market still trending in a direction that you want to see.

Mike, I'm done. I'm done. I don't know what else you want from me, but there it is. What do you got?

Mike Taylor: I mean, it's just such good news. I love to see this average days on the market graph here in the bottom middle. It's like just a race to the bottom. So, so good.

Probably will get even better in June and July as we report this. What I think it points out is if you're an investor, you want to do everything you can to have your home come vacant like late May, early June.

Right now is the best time to have a vacancy in Noblesville, typically, honestly, in most of the Indianapolis metro area. But it just goes to show, look at the difference. That's a 20-day difference in vacancy between January and May slash June. So it's really significant.

If you can and you have somebody that's coming up for renewal in February, offer them a 14-month lease, a 16-month lease. Get on that spring-summer cycle and you will see fewer days on the market.

Chris Knight: Great point, exactly. And if you need any proof of that, if Mike didn't already allude to it, because I kind of tuned him out halfway through that, but the average days on market trend, look at the average days on market.

You're going to put a property up on the market in January, there it is. You're going to be on the market for 50 days. If you're going to put a property up on the market in May, there it is. You're going to be on the market for 30 days. There it is in plain English.

All right, that's it. I'm going over the sales data.

All right, let's see if the sales data is in any way as good news as the rental data was. Your average sales price here in Noblesville, Indiana, $363,229. Month over month, we're up almost 3%. Same thing almost year over year.

Average days on market is at 41, which is also a very fine number to see here in Noblesville. Number of homes sold, 105. That is up almost 18% month over month alone.

People are picking up properties like crazy in Noblesville. These are markets where you want to own properties. Talk about safe markets. No matter what's going on on a national level, you are as protected as you can be as far as an investment goes.

Average price per square foot is at $182. Mike, it looks like I'm entertaining you a little bit.

Mike Taylor: Always, Chris. Always.

Chris Knight: Your average sales price trend, that's exactly what you want to see. We're trending over where we were last year. So it's an awesome graph to see.

And then even better, if you're a new investor, and I take these calls every day, where should I invest? What market, what city should I invest in if I'm a new investor looking at investing in Indianapolis or surrounding suburbs? Here's your answer. This is where you need to invest, and how much are you going to need to expect to invest?

We just talked about this in the Indianapolis market report where we went over the conversations I'm having with new investors, but this is the reality of a good investment opportunity, which is still going to be a great entry point for a super quality real estate investment purchase.

This is what you're going to be looking at spending here in Noblesville. You can pick up a property between $200,000 and $250,000. Those deals are there. Between $250,000 and $300,000, a lot more deals are there, and that's probably the meat of this market.

If you're going to ask me, that's probably the price point I'm going to be looking at. I'm not going to sneeze at a property that's listed between $200,000 and $250,000. That'd be great to pick one up there. There's going to be a little bit more competition around those, but between $250,000 and $300,000, you're going to have a solid real estate investment opportunity here in Noblesville.

That's exactly where you should be looking to invest for your next real estate investment opportunity, Mike.

Mike Taylor: Hundred percent, Chris. Let me just put a point on that to say this: you're buying in an extremely desirable community.

We just talked about this in the economic insights, but Noblesville was one of four areas in Indiana to be named in the top 250, but we were four in the top 26. Noblesville, I think, was nineteenth best place to live in the nation.

Can you imagine that you can be in the nineteenth best place to live in the nation and get a home for under $250,000 or $250,000 to $300,000? I mean, that is unbelievable.

So if you have an investment in this area, it's a desirable community. It's only going to continue to appreciate. We're seeing modest but steady growth year over year in terms of average sales price. Just a really great place to invest.

Chris Knight: One hundred percent. Great point. I love how you circle back to our economic updates or reports. What are we calling it these days? Remind me.

Mike Taylor: Insights. No. Economic reports.

Chris Knight: Okay. Check out one of those that we did earlier, and we go into some super valuable information on these markets here in Indiana and how much Indiana is really a focal point right now for great places to live.

Mike, that's a great circle back. I absolutely love it. All right, let's cut out of this. Let's get into our next market report.