Third Quarter Stats Are Up Nicely!
By all measures, the third quarter provided the brightest picture of the year for central Indiana’s housing consumers. According to the latest MIBOR Monthly Indicators Report of Broker Listing Cooperative® data released today, pending and closed sales as well as median and average sales price rose in the July through September comparisons of 2011 to 2010.
Closed sales were up 24.1 percent in the third quarter compared to the same time period last year. Both Median and average sales Prices rose 4.1 percent in the quarter, consistent with the price stability seen all year. New listings were down 15 percent in the 3rd quarter which helped to bring inventory levels down 7.7 percent. Months of supply of inventory is still high at 9.9 months for the quarter.
Monthly numbers are encouraging as well. For the month of September only, closed sales increased 11.1 percent over September 2010. Price increases were more robust with a 9.5 percent increase in median sales price in September with average sales price up 8.8 for the month. Pending sales for September were down 5.5 percent over last year.
