The April 2013 housing data released by MIBOR today shows a continuing increase in closed and pending sales in central Indiana. According to the MIBOR Monthly Indicators Report, the number of closed sales in central Indiana increased 18.7 percent in April 2013 compared to April of a year ago. Closed sales rose 21.8 percent in the quarter ending in April when compared to the same three-month period last year.

Pending sales kept pace increasing by 22.8 percent for the month and 16.7 percent in the quarterly comparison. Perhaps the most welcome news is a surge in new listings in April. The 9.2 percent jump should prove welcome news to buyers competing with other buyers, like they haven’t in years.

Sales prices are stable with median sales price up 0.8 percent for the quarter, dipping down by 0.8 percent for April alone. Average sales price was a bit strong; up 2.0 percent in April and 2.4 percent for the quarter ending in April. The current average sales price in central Indiana is $163,275; median sales price is $130,000.

Consistent with last month’s news, months of inventory stands at 5.5 months.