Monday, September 26, 2016 / by Karen McGail
Closed Sales Pace Picks Up, Service Area Expands
Housing data released by MIBOR today shows a 12.9 percent increase in closed sales for the month of August and a 5.9 percent increase for the quarter ending in August compared to the same time periods one year ago. Pending sales rose 14.9 percent in August and 8.3 percent increase for the quarter. For the first time, housing data from Bartholomew and Jennings counties have been incorporated into the full MIBOR service area as the transition of data from the Crossroads listing service to the BLC® listing service is now complete. While the addition of two counties does account for some increase, closed activity in Bartholomew and Jennings counties account for 134 of the 3,061 closings for the month.
Prices continue a consistent increase with median sales price increased up 3.3 percent in August to $154,900 and average sales price up 1.9 percent to $192,140. For the quarter ending in August, median sales price is up 2.9 percent and average sales price has increased 2.0 percent.
Months of inventory remains unchanged, but tight, at 4.0 months.
Along with the Monthly Indicators Report, a one-page report of each county within the service area is also provided. In total, these data sets are intended to be a snapshot of the market, providing historical comparisons whenever possible. The data was pulled from the BLC® listing service on September 19th.