MIBOR serves the needs of 7,000 members in Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Montgomery, Morgan and Shelby counties. MIBOR also supplies the BLC® service to REALTORS® in Putnam county. MIBOR’s archive of housing data can be found at www.mibor.com.
Director of Member
& Industry Advocacy
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Political Affairs Liaison
Economic & Community Development Liaison
November Housing Market Bounces Back
Housing data released by MIBOR REALTOR® Association (MIBOR) this week shows positive closed sales, pending sales, prices and new listing activity in November reversing trend from some slight dips and less aggressive growth in October. Closed sales increased 3.5 percent in November compared to November 2014, rose 0.7 percent in the quarterly comparison and 8.6 percent over the last 12 months. Pending sales increased 14.8 percent in the monthly comparison of November 2015 to the same period last year. In the quarter ending in November, pending sales rose 11.7 percent. Sale prices increased. The average sales price increased by 4.2 percent in November and rose 3.0 percent in the three-month review. Median sales price increased 5.5 percent in November and 3.6 percent for the quarter ending in November.
New listings, a metric that has been through yo-yo effect all year, increased an impressive 11.7 percent in November.
In regard to new listings, Kathy Hall, 2015 MIBOR president said, “the reversal in closed sales from October to November is a great sign, but the meaningful stat for a healthy future market is seen in the double digit new listings increase. That’s exciting to see this time of year.” She continued, “It means sellers have confidence and it means buyers have more choice. We need that type of heavy increase month after month to meet the buyer demand out there. This is a great first step.”
Several counties outperformed the region as a whole in closed sales increases for the month including Brown, Hendricks, Johnson, Montgomery and Putnam. The following counties outpaced the region in price increases on November: Brown, Madison, Marion, Montgomery, Putnam and Shelby.
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 December 16. 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.
The Connection Between Vibrant Neighborhoods and Economic Growth
Trends in economic and community development suggest a fundamental shift in approach from attracting jobs to attracting talent. But what does this mean for communities? A new study of high-growth firms in Greater Washington D.C. outlines the link between vibrant neighborhoods and economic growth. The article concludes that “simply put, it is the vibrancy of a neighborhood—not whether it’s urban or suburban—that attracts high-growth firms and helps bolster a high-growth regional economy.” Read the full article here.