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Local Market Review: Listing and Inventory Gains Seen in March

Published Monday, April 21, 2014

Housing data released by MIBOR today shows an increase in new listings in the central Indiana housing market with a slight uptick in months of inventory. Across the region, new listings increased 3.8 percent in March, the first gain all year. Months of Inventory moved slightly higher as well with inventory currently standing at 4.7 months compound to 4.3 months in February.

Sales prices remain strong. The Median Sales Price increased 6.7 percent in the first quarter to $129,155 compared to last year and jumped 6.5 percent in March only data to $134,222 compared to March 2013. Average sales price also fared well with a 6.3 percent increase in the first quarter to $160,989 over first quarter 2013 and up to $165,130 for March only – a 5.8 percent increase over March one year ago.

Closed sales decreased 11.4 percent for the first quarter compared to the same time period in 2013 and dropped 8.5 percent in March compared to a year ago. Pending sales followed a similar pattern, down 13.4 percent for the quarter and 7.3 percent in March 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 April 16. To download the full report, including the Monthly Indicators report 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 www.mibor.com/fasttrack

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