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, Hamilton, Hancock, Hendricks, Johnson, Marion, Montgomery, Morgan and Shelby counties. MIBOR also supplies BLC® listing service to REALTORS® in Decatur, Madison and Putnam counties.
Director of Member
& Industry Advocacy
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Political Affairs Liaison
Economic and Community Development Liaison
July Housing Data Shows Stable Pricing, Continued Inventory Gains
Housing data released by the Metropolitan Indianapolis Board of REALTORS® (MIBOR) last week shows increases in home prices in central Indiana with continued decreases in closed and pending sales. However, new listings increased 2.5 percent for the quarter ending in July and 2.2 percent in the month of July. A welcome sign, the amount of inventory – considered low all year – increased to its highest level all year.
Sales prices remain stable. The median sales price increased 2.1 percent in the quarter ending in July to $145,000 compared to last year, and grew 0.1 percent in July compared to July 2013. Average sales price also fared well with a 3.8 percent increase in the quarter to $182,680 over the last time period last year and up to $183,449 for July only – a 2.2 percent increase over July one year ago. While no individual counties had strong closed sales figures in July, several outpaced the region in median sales price gains. Boone, Brown, Decatur, Johnson, Morgan and Shelby counties all outperformed the region in price. Additionally, Hendricks, Johnson, Marion, Madison and Shelby counties had impressive gains in new listings.
Closed sales decreased 6.4 percent for the quarter compared to the same time period in 2013 and dropped 8.5 percent in July compared to a year ago. Pending sales followed a similar pattern to a lesser degree, down 4.4 percent for the quarter and 3.6 percent in July alone.
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 August 18.
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 contact firstname.lastname@example.org.
MIBOR Awards Placemaking Grants to Help Improve Communities
MIBOR recently received two $2,300 Placemaking micro-grants from the National Association of REALTORS® to help make the communities of Fortville and Historic Meridian Park better places to live and work by transforming unused public spaces into vibrant community places. The grants were presented to both organizations earlier this month.
The Placemaking grants are intended to help REALTOR® Associations partner with others to plan, organize, implement and maintain placemaking activities in their communities.
These specific grants will be used to aid in the construction of a shelter in Historic Meridian Park’s pocket park and to transform a pedestrian alley walkway in downtown Fortville, with the help of Fortville Action Inc.
“REALTORS® live, work and volunteer in their communities and take immense pride in working to improve them,” said Janet Jernigan, president of MIBOR. “Placemaking can help foster healthier, more social and economically viable communities by addressing areas in need of improvement or redevelopment. It creates places where people feel a strong stake in their neighborhood and are committed to making things better. “As these destinations becomes more attractive and welcoming, nearby properties may also increase in value.”
Projects will be completed at both locations by the end of 2014. Construction of the shelter in Historic Meridian Park is set to begin this Fall. Work on the pedestrian walkway in Fortville will begin in August/September of this year.
For more information on Historic Meridian Park, visit www.historicmeridianpark.org. For more information on Fortville Action Inc., visit http://fortvilleaction.wordpress.com. To find out more about National Association of REALTORS® placemaking grants visit, realtoractioncenter.org/Placemaking.
Over 33,000 Downloads - Do you have the MIBOR Mobile App?
According to the most recent Profile of Homebuyers and Sellers, for 42 percent of home buyers nationally, the first step in the home-buying process was looking online for properties. The free MIBOR Mobile app is a must-have for searching for local available properties AND connecting with your REALTOR®. Driving through a neighborhood you like? Click on the 'Near Me' feature and available listings will pop up around you! Be sure to download this app to your mobile devices today.