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Local Market Review: Consistent Housing Gains Continue Through August

From the MIBOR Fast Track Market Spotlight:

Progress is steady in the local housing market, with strong gains in activity and consistency in price. The August Monthly Indicators Report of BLC® listing service data released by MIBOR today reveals that the number of closed sales in central Indiana increased by 14.5 percent in the three months ending in August 2012 when compared to the same three-month period last year. In August alone, closed sales increased by 12.3 percent.
Pending sales held pace increasing 14.1 percent for the three-months ending in August and growing by 14.0 percent for the single month of August.

Prices steadily grew. The median sales price stands at $134,900, representing a 4.2 percent increase for the quarter and a 2.48 percent increase in August. The supply-demand balance stabilized as months supply of inventory was down 23.9 percent to 7.8 months in August.
Along with the Monthly Indicators Report, a one-page report of each county within the service area is also provided. 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 September 19. To download the Monthly Indicators report, click here. To view the one-page county reports, click here. Please note, due to the length of the reports, it may take a few minutes to download. If you have questions regarding the data, please click here.

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