Tuesday, October 21, 2014 / by Carlos J Higareda
Local Market Review: September Data Show Sales Breakthrough
Housing data released by MIBOR today shows gains in all monthly metrics with closed sales increasing by 13.1 percent in September – the first monthly gain of 2014. The one month increase did not erase the negative slide in closed sales but helped to close the gap. Closed sales for the three months ending in September was down just 0.5 percent. Sales prices remain strong. The Median Sales Price increased 2.9 percent to $144,000 in the quarter ending in September compared to the same quarter last year and grew 5.1 percent in September only data to $141,900 compared to September 2014.
New listings rose 8.4 percent for the month and 1.2 percent for the quarter. Pending sales increased by 13.6 percent in September and 2.3 percent for the three months ending in September. Months supply of inventory rose 3.3 percent to 5.7 months.