Housing data released by MIBOR today shows continued strong sales and price activity through October 2013 with a weakening in pending sales activity. The slowing trend of pending sales in the last few months has resulted in the first negative metric all year with pending sales in October down 1.8 percent from October 2012. Closed sales still performed well increasing 6.6 percent in October and up 11.6 for the quarter ending in October.

According to the MIBOR Monthly Indicators Report, prices maintain a steady climb with median sales price up 4.9 percent for the quarter, and up 5 percent for the month of October.  Average sales increased 4.9 percent in October and 4.4 percent for the quarter ending in October. The current average sales price in central Indiana is $165,916; median sales price is $132,500. Months of inventory dipped to 5.3 months.

Source: MIBOR