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Sales Slow & Prices Rise In November

by The Worrell Group

Housing data released by MIBOR today shows a slower pace of closed and pended sales through November 2013 with a continued bump in pricing. As expected, the decrease in pended sales witnessed in October resulted in less robust closed sales for November with closed sales down 3.9 percent for the month; the first decrease of 2013. Closed sales are strong across the year however, up 18 percent for the last 12 months and up 5.4 percent in the quarter ending in November.

According to the MIBOR Monthly Indicators Report, prices maintain a steady climb with median sales price up 5.4 percent for the quarter, and up 4.8 for the month of November.  Average sales increased 5.7 percent in November and 5.1 percent for the quarter ending in November. The current average sales price in central Indiana is $168,342; median sales price is $132,000. Inventory is at an even five months.

 

October Sales Update!

by The Worrell Group

As we round into the final quarter of 2013, it's a good time to look back and reflect. This year has been one of recovery in central Indiana’s housing market as pent up buyers felt buoyed by favorable interest rates and increasing consumer confidence while sellers regained their footing as demand for their homes shot up.


The home buying season has been characterized by faster selling times, steady prices and multiple offer situations. October numbers begin to reflect the natural pull back in the market.


New Listings in central Indiana increased 4.8 percent in October and 13.1 for the quarter ending in October. Pending Sales were down 1.8 percent for the month, the first decrease of 2013. Closed sales are still climbing, up 11.6 percent for the quarter and 6.6 percent for the month of October. Prices remain steady. The Median Sales Price increased 5.0 percent to $132,500 in October and rose 4.9 percent to $135,000 for the quarter.


Average sales prices rose a similar percentage to $165,916. Month’s Supply of Inventory was down 21.4 percent to its slowest all year at 5.3 months. 

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The Randy Worrell Team
RE/MAX Legends Group
5645 Castle Creek Pkwy N
Indianapolis IN 46250
Direct: 317-819-3330
Voicemail: 317-644-0086

Randy Worrell  -  RE/MAX Legends Group       317-819-3330  Direct       317-590-5709  Mobile