Monday, August 25, 2014 / by Carlos J Higareda
Housing data released by MIBOR today shows stable increases in home prices in central Indiana with continued decreases in closed and pending sales. However new listings increased 2.5 percent for the quarter ending in July and 2.2 in the month of July. Months Supply of Inventory rose 4.8 percent to 5.9 months.
Sales prices remain stable. The Median Sales Price increased 2.1 percent in the quarter ending in July to $145,000 compared to last year and grew 0.1 percent in July only data to the same $145,000 compared to July 2013. Average sales price also fared well with a 3.8 percent increase in the quarter to $182,680 over the last time period last year and up to $183,449 for July only – a 2.2 percent increase over July one year ago.
Closed sales decreased 6.4 percent for the quarter compared to the same time period in 2013 and dropped 8.5 percent in July compared to a year ago. Pending sales followed a similar pattern to a lesser degree, down 4.4 percent for the quarter and 3.6 percent in July alone.
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 18.