New February Housing Data Shows Increase in Prices and Slowing Activity in Sales
New housing data released this week shows an increase in pending sales of 4.3 percent, while closed sales remained unchanged.
For the seventh month, Bartholomew and Jennings counties are included in the central Indiana region covered by MIBOR bringing the data count from 13 counties to 15 counties. That addition in February does prevent a true February to February comparison, however, in February the total number of closed sales in both counties combined was 85 of the region’s 1,984 closed sales.
Sale prices for February continue to rise. The median sales price increased by 12.6 percent to $152,000 and average sales price up 10.4 percent to $187,893. For the quarter ending in February, median sales price is up 7.2 percent and average sales price increased 7.4 percent.
Months of inventory has slightly decreased to 2.9 months.
February saw some impressive price increases in Central Indiana. REALTORS® agree that the market is solid, and high demand along with eager buyers makes this the perfect time to sell your home.