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
Follow me on Twitter: @cpryor1912
Political Affairs Liaison
Economic and Community Development Liaison
Winter No Match for Central Indiana Housing
Housing data released by the Metropolitan Indianapolis Board of REALTORS® (MIBOR) this week shows healthy increases in all metrics in February. January’s impressive jump in new listings and pending sales came to fruition in February as closed sales rose 12.6 percent in February and increased 12.8 percent for the three months ending in February. Sales prices, which have been stable over the last year, rose to an even greater degree in February. Median sales price increased by 5.3 percent in February, bringing the three month increase to 2.3 percent. Average sales price rose 8.4 percent for the month and 2.8 percent for the three months ending in February.
New listings also jumped in February rising 13.4 percent for the month and by 17.0 percent for the three months ending in February. Months supply of inventory dropped slightly to 4.4 months of available homes for sale. Pending sales provided further stability moving forward with pending sales up 13.8 percent in February and 15.6 for the quarter. Months supply of inventory reflects the time it would take for all listed properties to sell. A range of four to six months is considered a balanced market for both buyers and sellers. Pending sales are sales in which a purchased agreement has been signed, but the transaction has not closed. Pending sales are an accurate predictor of future closed sales activity.
Half the counties analyzed in the report outperformed the region in closed sales activity and price. Those include Hamilton, Hancock, Johnson, Marion, Montgomery, Putnam and Shelby counties.
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 March 17. 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
Your Feedback Wanted for Thriving Communities Survey
The Thriving Communities, Thriving State project is a two-year effort to study what makes Indiana communities succeed presented by the Indiana University Public Policy Institute.
Using a place-based approach, the project will take a look at issues affecting (1) small town/rural, (2) mid-sized, and (3) urban areas. Each area will have its own commission to identify how current policies help or hinder communities, where policy gaps exist, and what changes are needed to better support communities.
We invite you to share your views about real estate issues, your community and the future of Indiana by taking the Thriving Communities Survey.