Local Market Review: New Listings, Sales and Prices Up, Inventory Remains Low
Housing data released by MIBOR today shows increased activity in listings and sales along with steady price gains alongside another month of low inventory. Closed sales increased 9.6 percent in February compared to February 2015 and rose 10.0 percent in the quarterly comparison. Pending sales showed similar growth up 14.0 and 15.0 percent for the month and quarter respectively. New listings performed well up, 10.5 percent for the month and 0.7 percent for the quarter. Inventory continues to drag, down 13.1 percent to 3.8 months.
Sale prices remain on an upward climb. The average sales price increased by 2.2 percent in February to $170,125 and rose 3.6 percent in the three-month review. Median sales price increased 2.7 percent in February to $135,000 and 6.0 percent for the quarter.
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 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.