Local Market Review: Pending Sales Increased in May 2017

Housing data released by MIBOR today shows pending sales increased 6.0 percent in May, and 5.2 percent for the quarter. Closed sales dropped 2.1 percent for the month of May, compared to the same month one year ago, however increased by 5.4 percent for the quarter ending in May. For the tenth month, housing data from Bartholomew and Jennings counties has been incorporated into the full MIBOR service area as the transition of data from the Crossroads listing service to the BLC® listing service is now complete. While the addition of two counties does account for some increase, closed activity in Bartholomew and Jennings counties account for 159 of the 3,673 closings for the month. 

Prices increased with median sales price up 5.7 percent in May to $168,000 and average sales price up 6.4 percent to $202,984. For the quarter ending in May, median sales price is up 5.9 percent and average sales price has increased 5.2 percent. Months of inventory was consistent at 3.0.

Along with the Monthly Indicators Report, a one-page report of each county within the service area is also provided. In total, these data sets are intended to be a snapshot of the market, providing historical comparisons whenever possible. The data was pulled from the BLC® listing service on June 16.