New housing data released this week shows closed sales have increased for the third straight month by 11.4 percent across central Indiana in October. Pending sales decreased by 3.4 percent in October 2016 compared to last October 2015.
For the third month, Bartholomew and Jennings counties are included in the numbers bringing the data count from 13 counties to 15 counties. That addition in October does prevent a true October to October comparison, however, in October the total number of closed sales in both counties combined was 115 of the region’s 2,844 closed sales.
Sale prices for October continued to rise through the month. The median sales price increased by 7.7 percent to $153,000 and average sales price up 5.7 percent to $186,902.
Months of inventory slightly decreased to 3.7 months.
REALTORS® agree that the house market is at a comfortable pace despite the decrease in inventory. The shortage of inventory is sustaining a healthy competitive market with gains in prices and closed sales. With winter in sight, sellers still on the market can continue to benefit from the high buyer demand.