The Metropolitan Indianapolis Board of REALTORS® is the professional association representing central Indiana’s REALTORS®. MIBOR serves the needs of more than 6,500 members in Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Johnson, Marion, Montgomery, Morgan and Shelby counties. MIBOR also supplies BLC® listing service to REALTORS® in Madison and Putnam counties.
Director of Member
& Industry Advocacy
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Political Affairs Liaison
Economic and Community Development Liaison
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Fall Housing Market the Highlight of 2014
Housing data released by the Metropolitan Indianapolis Board of REALTORS® (MIBOR) this week shows the second straight month of increased prices and closed sales. October data rides the positive wave created in September with closed sales up 9.4 percent in October compared to October of last year and 5.9 percent for the three months ending in October. Pending sales were equally encouraging with pending sales increasing 11 percent in October over October of 2013 and 7.3 percent for the three months ending in October. Pending sales reflect transactions where purchase agreements are signed, but the transaction has not fully closed.
Sales prices remain strong. The median sales price increased 5.5 percent in the quarter ending in October to $142,400 compared to the same quarter last year and grew 5.6 percent in October only data to $139,900 compared to October 2013. Average sales price also fared well with a 5.4 percent increase in the quarter to $177,727 over the last time period last year and up to $177,175 for October only – a 6.8 percent increase over the same month last year. New listings increased by 4.9 percent and months supply of inventory rose 2.4 percent to 5.4 months of available homes for sale.
“October followed September’s breakthrough as buyers and sellers jumped back into the market with great confidence,” explained Janet Jernigan, 2014 MIBOR president. “The growing activity in pended sales and new listings over the last 60 days shows even more consumer faith in the market. While 2014 has been a good year for buyers and sellers, the market is really showing its strength this fall. Both buyers and sellers are poised to benefit from numbers like these.”
Several counties outpaced the region as a whole for closed sales including: Boone, Brown, Hendricks, Johnson, Morgan and Shelby.
Click here to download the Monthly Indicators report. Click here to view the one-page county reports.
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 contact firstname.lastname@example.org.
REALTORS® Support the Great Places Launch
Local Initiative Support Corporation (LISC) Indianapolis unveiled the first three of its six Great Places late last week to an enthusiastic crowd of community supporters. MIBOR and local REALTORS® were proud to take part as the Vitality sponsor. The neighborhoods selected are Mid-North at 38th and Illinois Street; Near East at Oxford and East Washington Street; and Near West at Michigan and King.
The three selected neighborhoods will continue neighbor-driven quality of life planning through partnership, development and investment in a collaborative process to achieve Livability, Opportunity, Vitality and Education. The effort is deemed “Love Thy Neighborhood”.
These great places will be supported in their efforts by a number of implementation organizations. MIBOR was pleased to announce The Indianapolis Neighborhood Housing Partnership (INHP) as the Vitality implementation organization. INHP will work hand-in-hand with neighborhood leaders to maximize their housing assets and create vibrant places to live, work and play while to retaining existing residents while attracting new residents. Learn more at www.greatplaces2020.org
Shifting Patterns of Growth:
Americans return to urban life
Many cities are not only outpacing the suburbs, they’re outpacing their own growth rates from previous decades. The country’s population isn't just growing – it’s also shifting. Read more here.