Central Indiana Housing Weathering Winter

Housing data released by MIBOR shows healthy increases in all metrics in February. January’s impressive jump in new listings and pending sales came to fruition in February as closed sales rose 12.6 percent in February and increased 12.8 percent for the three months ending in February. Sales prices, which have been stable over the last year, rose to an even greater degree in February. Median sales price increased by 5.3 percent in February, bringing the three month increase to 2.3 percent. Average sales price rose 8.4 percent for the month and 2.8 for the three months ending in February.

New listings also jumped in February rising 13.4 percent for the month and by 17.0 percent for the three months ending in February. Months supply of inventory dropped slightly to 4.4 months of available homes for sale. Pending sales provided further stability with pending sales up 13.8 percent in February and 15.6 for the quarter.