New September Housing Data Shows Increased Closed Sales
New housing data released this week shows closed sales have increased for the second straight month by 14.7 percent in September. Pending sales rose by 0.1 percent September 2016 compared to August 2015.
For the second month, Bartholomew and Jennings counties are included in the numbers bringing the data count from 13 counties to 15 counties. That addition in September does prevent a true September to September comparison, however, in September the total number of closed sales in both counties combined was 122 of the region’s 3,196 closed sales.
Sale prices for September are on the rise. The median sales price increased by 8.4 percent to $159,900 and average sales price up 9.0 percent to $197,695. For the quarter ending in September, median sales price is up 5.0 percent and average sales price increased 2.9 percent.
Months of inventory has slightly decreased to 3.8 months.
REALTORS® agree that the strong pending sales seen in August helped buyers find their dream home in September. A second straight month of double digit increases in closed sales is not atypical for early fall, but is certainly welcomed good news given the low inventory. It is not too late for sellers on the market to benefit from the high buyer demand.