Housing data released by MIBOR today shows increased activity in sales along with steady price gains alongside another month of tight inventory. Closed sales increased 20.5 percent in March compared to March 2016 and rose 9.8 percent in the quarterly comparison. Pending sales increased 5.2 percent and 5.0 percent for the month and quarter respectively. Tight inventory continues with months of inventory at 3.8 months. For the eighth month, housing data from Bartholomew and Jennings counties has 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 132 of the 2,660 closings for the month.

Prices continue to increase with median sales price up 4.9 percent in March to $156,000 and average sales price up 4.0 percent to $189,237. For the quarter ending in March, median sales price is up 7.0 percent and average sales price increased 6.6 percent.