April Home Sales on the Rise in Central Indiana
Housing data released for April 2012 shows continued growth in central Indiana, including an increase in home prices and a rising number of closed and pending sales. A report of BLC® listing service data released by MIBOR reveals that closed sales increased by 16.1 percent in the three months ending in April 2012 when compared to the same three-month period last year. In April alone, closed sales increased by 18 percent. Pending sales also continued to increase, up 11.2 percent for the three months ending in April, and 7.8 percent in the one-month comparison.
Average sales and median sales price experienced continued growth, up 5.5 and 6.0 percent respectively in the three-month comparison. Months of supply decreased considerably in both the one and three-month view. Months of supply of inventory stands at 8.1 months in April.
Many counties in the region performed well in closed sales activity with Boone, Decatur, Madison, Marion, Montgomery and Morgan counties all outperforming the region as a whole. Each of those counties experienced a 20 percent or higher increase in sales in April 2012 over April 2011.
Debbie Morris, 2012 MIBOR president, reacted to the report, “it’s encouraging to see a strong April following the impressive first quarter we experienced in central Indiana. These numbers coupled with last week’s news that central Indiana remains the most affordable market in the nation is good news for buyers and sellers. Our focus now is on how to sustain this upward trend. Availability of mortgages and increased job growth are the biggest areas of concern right now.”
To download the Monthly Indicators report, click here.
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