Monday, February 24, 2014 / by Carlos J Higareda
Local Market Review: January Data Reveals Slow Pace, Strong Prices
Housing data released by MIBOR today shows an increase in sales prices in the central Indiana housing market with a noticeably slower pace in closed sales. In central Indiana, the average sales price of homes increased by 8.7 percent to $170,041 in the three-month comparison and increased by 9.4 percent to $162,787 in the January-only comparison.
Median sales prices increased by 4.7 percent to $130,893 in the three-month comparison and increased 4.8 percent in January to $125,750. According to the MIBOR Monthly Indicators Report, the number of closed sales in central Indiana decreased by 1.8 percent in the three months ending in January 2014 when compared to the same three-month period last year. In January alone, closed sales decreased by 13.8 percent. Pending sales decreased by 12.4 percent in the three months ending in January and decreased by 22.6 percent in the one-month comparison. 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 February 18.