Tuesday, October 25, 2016 / by Karen McGail
Closed Sales Rise Again in September
Housing data released by MIBOR today shows a 14.7 percent increase in closed sales for the month of September and a 8.7 percent increase for the quarter ending in September compared to the same time periods one year ago. Pending sales rose just 0.1 percent in September and 5.6 percent increase for the quarter. For the second month, 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 122 of the 3,196 closings for the month.
Prices continue a consistent increase with median sales price increased up 8.4 percent in September to $159,900 and average sales price up 9.0 percent to $197,696. For the quarter ending in September, median sales price is up 5.0 percent and average sales price has increased 2.9 percent. Months of inventory shrank even more to 3.8 months despite a 6.0 percent increase in new listings in September.