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Local Market Review: Strong Prices, Lagging Activity Dominate February Data

Published Monday, March 24, 2014 9:00 am

Housing data released by MIBOR today shows an increase in sales prices in the central Indiana housing market with a decrease in closed and pending sales. In central Indiana, the average sales price of homes increased by 8.7 percent to $165,595 in the three-month comparison and increased by 4.1 percent to $153,722 in the February-only comparison. Median sales prices increased by 7.5 percent to $129,000 in the three-month comparison and 7.8 percent to $124,900 in February. 

According to the MIBOR Monthly Indicators Report, the number of closed sales in central Indiana decreased by 4.8 percent in the three months ending in February 2014 when compared to the same three-month period last year.  In February alone, closed sales decreased by 12.8 percent.  

Pending sales decreased by 15.4 percent for the quarter and decreased by 12.5 percent in the one-month comparison. New listings decreased 19.9 in February compared to February 2013 and inventory stands at 4.3 months.

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 18. To download the Monthly Indicators and 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

For more Fast Track articles, visit our archive at www.mibor.com/fasttrack 

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