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Local Market Review: Strong First Quarter, All Eyes on New Listings

Published Monday, April 20, 2015

Housing data released by MIBOR today shows increases in all areas for March and the first quarter. The last few month’s new listings and pending sales created a 13.8 percent increase in closed sales in March and a 13.1 percent increase for the quarter ending in March. Sales prices continued to gain traction. Median sales price increased by 4.4 percent in March, bringing the three month increase to 4.6 percent. Average sales price rose 6.7 percent for the month and 5.9 for the three months ending in March. The current average sales price is $175,991 and median sales price is currently $140,000. 

New listings slowed dramatically rising only 0.5 percent in March. Pending sales, while still strong increased by 9.5 percent, slowed from the dramatic double digit jumps earlier in the year. Months supply of inventory dropped slightly to 4.5 months of available homes for sale.  

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 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