Local housing performance in the third quarter of 2012 played out much like the
first half of the year with impressive amounts of consumer interest and slow,
steady price gains. The September Monthly Indicators Report of BLC® listing
service data released by MIBOR today reveals that pending sales were up 14.9
percent and closed sales increased by 13.1 percent for the three months ending
in September. Closed sales for September alone increase 11.3 percent over last
September and pendeds jumped 11.8 percent.

Prices were
stable but not dramatically higher, reinforcing the slow and steady gains seen
throughout 2012. In the third quarter, the median sales price increased 2.0
percent to $131,500. Average sales price inched by 1.2 percent to $166,211. The
balance of housing stock continue to stabilize with the months supply of
inventory figure down 23.1 percent to 7.6 months.