— Housing data issued today by the MIBOR REALTOR® Association (MIBOR) for January 2017 shows a sixth straight month of increased closed sales across the region. January closed sales increased 4.4 percent.
There were 1,806 closed sales in central Indiana in January. Closed sales in the three months ending in January increased by 10.4 percent.
Pending sales increased 5.5 percent in January 2017 compared to last January, and increased 0.9 percent in the three-month comparison ending in January, when compared to the same period last year.
For the sixth month, Bartholomew and Jennings counties are included in the central Indiana region covered by MIBOR bringing the data count from 13 counties to 15 counties. That addition in January does prevent a true January to January comparison, however, in January the total number of closed sales in both counties combined was 67 of the region’s 1,806 closed sales. For the 13 county comparison excluding Bartholomew and Jennings, click here.
New listings increased 1.1 percent in January from one year ago, and 1.2 percent in the three-month comparison ending in January.
The median sales price rose 4.5 percent in January and 5.7 percent in the three-month review. The average sales price increased by 6.1 percent in January and increased 5.5 percent when comparing the three months ending in January.
Additional findings for central Indiana in January 2017:
• The current median sales price in the region is $143,700
• The current average sales price in the region is $182,552
• Month’s supply of inventory is 2.9 months
• Total active listings fell by 14.9 percent
“Prices were strong throughout 2016, and January data shows we are headed that way in 2017,” said Jason O’Neil, 2017 MIBOR president. “Inventory remains low, but high demand and sustained job growth point toward a positive market in 2017.”
Statewide year-over-year comparisons show:
• Closed home sales increased 5.2 percent to 4,521
• Pending home sales increased 4.5 percent to 5,453
• Median sales price of homes increased 6.4 percent to $132,888
• Average sales price of homes increased 6.3 percent to $160,294
• Percentage of original list price received increased 0.9 percent to 94.2 percent
• Number of new listings decreased 1.0 percent to 6,998
• Inventory of homes for sale decreased 16.7 percent to 27,320 units
• Months supply of homes for sale decreased 22.4 percent to 3.8 months
“Buyers are out in force right now and facing stiff competition from other interested parties,” said Seymour’s Cheryl Stuckwish, the newly-installed 2017 president of the Indiana Association of REALTORS®. “If you are considering buying a home this year, making a move sooner rather than later could lead to substantial savings. Demand is high, and prices are following suit. On-the-fence sellers who aren’t sure when they want to list should note the strong buyer demand and positive job creation happening now,” Stuckwish continued. “After all, stable incomes lead to flourishing housing markets because people need good paying jobs to buy homes.”
The attached data reports explain how the central Indiana housing market is performing according to eight different indicators. Each indicator will have one-, three-, six- and 12-month comparisons as well as a historical look. Consumers will also have access to specific county information for the 15 counties included in MIBOR’s Broker Listing Cooperative® (BLC®) service area: Bartholomew, Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Jennings, Johnson, Madison, Marion, Montgomery, Morgan, Putnam, and Shelby counties.
IAR’s report, found online under the Consumers tab of IndianaRealtors.com
, shows how Indiana’s housing market is performing according to the same indicators, with one-month and year-to-date comparisons as well as a historical look. Consumers will also have access to specific county information for 91 of Indiana’s 92 counties in a sortable table format.
This information has been provided by MIBOR REALTOR® Association (formerly named the Metropolitan Indianapolis Board of REALTORS®), the professional association representing central Indiana's REALTORS®. MIBOR serves the needs of nearly 7,500 members in Boone, Brown, Decatur, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Montgomery, Morgan and Shelby counties. MIBOR also supplies the BLC® service to REALTORS® in Bartholomew, Jennings and Putnam counties. MIBOR’s archive of housing data can be found at www.mibor.com.
IAR represents nearly 16,500 REALTORS® who are involved in virtually all aspects related to the sale, purchase, exchange or lease of real property in Indiana. The term REALTOR® is a registered mark that identifies a real estate professional who is a member of America’s largest trade association, the National Association of REALTORS®, and subscribes to its strict Code of Ethics.