Monday, August 22, 2016 / by Karen McGail
Housing data released by MIBOR today shows a 0.4 percent increase in closed sales for the month of July and an 7.8 percent increase for the quarter ending in July compared to the same time periods one year ago. Pending sales rose 2.1 percent in July and 5.2 percent increase for the quarter.
The pace of closed sales has slowed significantly from the spring and early summer months. Prices continue a consistent increase with median sales price up 2.5 percent in July to $158,900 and average sales price dipping slightly by 0.8 percent to $193,845. For the quarter ending in July, median sales price is up 3.2 percent and average sales price has increased 2.1 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 August 16.