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Local Market Review: October is Transition Month with Lower Closed Sales

Published Monday, November 23, 2015

Housing data released by MIBOR today shows positive pending and new listing activity in October with a dip in closed sales activity, the first closed sales decrease of 2015. Closed sales decreased 1.2 percent in October compared to October 2014, rose 1.1 percent in the quarterly comparison and are up 8.4 percent over the last 12 months. Pending sales increased 6.2 percent in the monthly comparison of October 2015 to the same period last year. In the quarter ending in October, pending sales rose 8.4 percent. New listings, a metric that has boomeranged month to month all year, increased 2.3 percent in October.

Sale prices slowed a bit. The average sales price decreased by 0.2 percent in October and rose 2.7 percent in the three-month review. Median sales price increased 1.5 percent in October and 3.3 percent for the quarter ending in October.

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 November 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.