The closed and pending sales activity in central Indiana continued to increase in double digit fashion in February following a strong January. The February Monthly Indicators Report of BLC® listing service date released by MIBOR today shows that pending sales were up 16.0 in the three-month view and up 19.7 percent in February alone.

Months supply of inventory was down 13.8 percent to 7.7 months in January. Closed sales were equally strong with Units Sold up 17.6 for the quarter ending in February and 22 percent in February alone.

Home prices began the year on steady note. The Median sales price increased 1.2 percent to $117,500 in February and 2.2 percent for the three months ending in February.  Average sales price was up slightly for both the quarter and the month.