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Local Market Review: New Listings, Sales and Prices Up, Inventory Remains Low

Published Monday, April 25, 2016

Housing data released by MIBOR today shows increased activity in listings and sales along with steady prices gains alongside another month of tight inventory. Closed sales increased 9.2 percent in March compared to March 2015 and rose 9.1 percent in the quarterly comparison. Pending sales showed another month of double digit increases climbing 16.5 and 14.6 percent for the month and quarter respectively. New listings performed well up 8.9 percent for the month and 4.3 percent for the quarter. Tight inventory continues with months of inventory unchanged at 3.8 months.