Spring Housing Market in Full Swing
First quarter housing numbers prove that buying and selling is a hot topic in central Indiana as closed and pending sales activity increased in double digit fashion across the region. Data released this week from the Metropolitan Indianapolis Board of REALTORS® (MIBOR) reveals that pending sales (shown in chart to the right) were up 14.5 in the first quarter of 2012 and up 8.6 percent in March alone in central Indiana. Months supply of inventory was down 15.8 percent for the quarter to land at 7.8 months. Closed sales were also strong with units sold up 18.3 for the quarter and 10.1 percent in March alone.
Home prices continue to increase at a steady pace. The Median sales price increased 4.9 percent to $118,500 for the first quarter and jumped 8.5 percent in March. Average sales price followed with a quarterly increase of 3.7 percent to $146,277 and a 7.8 percent increase in March to $153,660. While many counties across the region fared well, the strongest one month gains in closed sales were seen in Boone, Brown, Hamilton, Johnson, Marion and Montgomery counties.
To download the Monthly Indicators report, click here.