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Local Market Review: July Brings Most Closed Sales Since 2006; Lagging Inventory

Published Tuesday, August 25, 2015

Housing data released by MIBOR today shows continued increases in pending sales, closed sales and pricing. Pending sales increased 10.6 percent in the monthly comparison of July 2015 to the same period last year. In the quarter ending in July, pending sales rose 9.3 percent. Closed sales increased by 14.1 percent in July and by 12.0 percent in the three-month review. The key indicator of new listings fell 5.0 percent in July after an increase the month before.

Sale prices also saw increases in both the one- and three-month reviews. The average sales price increased by 6.6 percent in July and 5.3 percent in the three-month review. Median sales price had an equal jump of 6.9 percent in July and, coincidentally a 6.9 percent increase for the three months ending in July.

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 August 18. 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.

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