Local Market Review: Third Quarter Data Signals Continued Progress in Housing Market
Third quarter 2013 housing data released by MIBOR today shows continued strong sales and price activity coupled with a slow in pending sales. Closed sales activity is still strong in the double digits, however the rate of increase tapered off in September and the third quarter from the hot early quarters of 2013. According to the MIBOR Monthly Indicators Report, the number of closed sales in central Indiana increased 21 percent in the third quarter compared to the same period of 2012. Closed sales rose 13.3 percent in September alone when compared to September of last year. Pending sales slowed more by increasing by 8 percent for the month of September and 11.1 percent in the quarterly comparison. To balance that, the much-watched new listings figure keeps climbing. New listings increased by 18.4 percent in September and 17.6 percent for the quarter ending in September.
Prices maintain a steady climb with median sales price up 6.5 percent for the quarter, and up 3.8 for the month of September. Average sales increased 4.9 percent in September and 4.4 percent for the quarter ending in September. The current average sales price in central Indiana is $167,430; median sales price is $135,000. Months of inventory stands similar to the last few months at 5.5 months.
All Information from the Metropolitan Indianapolis Board of Realtors.
All this indicates it is good time to sell or buy! What do you think?