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Local Market Review: August Data Shows Strong Prices, Still Trailing Sales

Published Monday, September 22, 2014

Housing data released by MIBOR today shows strong prices increases in central Indiana with continued decreases in closed and pending sales. It’s been a similar narrative all year; media and average sales price growing 4-6 percent each month with closed sales trailing. Closed sales for August declined by 2.9 percent however, less than the 8.5 percent decline in July. Pending sales fell only slightly; less than one percent.

Sales prices remain the market’s strong point. The Median Sales Price increased 3.2 percent in the quarter ending in August to $147,000 compared to the same quarter last year and grew 5.8 percent in August only data to $148,000 compared to August 2014. Average sales price also fared well with a 5.2 percent increase in the quarter to $185,173 over the last time period last year and up to $183,443 for August only – a 6.7 percent increase over August of last year. 

Closed sales decreased 4.4 percent for the quarter compared to the same time period in 2013 and dropped 2.9 percent in August compared to a year ago. Pending sales followed a similar pattern to a lesser degree, down 2.3 percent for the quarter and 0.8 percent in August 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 September 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.