Housing data released today for September 2012 shows an increase in closed and pending sales in central Indiana, according to a jointly released report of the Metropolitan Indianapolis Board of REALTORS and the Indiana Association of REALTORS.
The number of closed sales in central Indiana increased by 13.1 percent in the three months ending in September 2012 when compared to the same three-month period last year. In September alone, closed sales increased by 11.3 percent.
Pending sales increased by 14.9 percent in the three months ending in September and 11.8 percent in the one-month comparison. Pending sales reflect signed purchase agreements that have yet to close.
In central Indiana, the average sales price of homes increased by 1.2 percent to $166,211 in the three-month comparison. Average sales prices decreased by 0.7 percent to $159,663 when compared to September 2011.
Additional key findings for central Indiana during July 2012 through September 2012:
New listings decreased by 4.1 percent,
Months of supply decreased to 7.3 months, down 23.3 percent, and
Total active listings fell by 11.7 percent.
“Much like the rest of the year, the end of the third quarter showed positive gains for central Indiana. Prices remained stable, while pending and closed sales continued to increase,” said Debbie Morris, 2012 MIBOR president. “True stimulus of the housing market continues to be dependent upon significant employment growth.”
“Now that the traditional buying and selling season is past, we can clearly see the strength within the residential real estate market statewide,” said Karl Berron, Chief Executive Officer of the Indiana Association of REALTORS. “Sustained recovery will not happen without real employment and wage growth. Consumers must be confident in both the greater economy and their family finances before signing on the dotted line.”
Statewide, when comparing September 2012 to September 2011, the following occurred:
The number of closed home sales increased 7.5 percent to 5,550,
The median sale price of those homes increased 4.3 percent to $120,000,
The average sale price increased 2.1 percent to $141,454,
The number of pending home sales increased 8.6 percent to 4,991,
The number of new listings decreased 3.4 percent to 8,399, and
The percent of original list price received increased 1.2 percent to 90.9 percent.
IAR’s report, found online under the Reports tab of IndianaIsHome.com, will show consumers how the state of Indiana’s housing market is performing according to the same indicators, with one-month and year-to-date comparisons, as well as provide a historical look. Consumers will also have access to specific county information for 91 of Indiana’s 92 counties in a sortable table format.
This information has been provided by MIBOR, the professional association representing central Indiana’s REALTORS. MIBOR serves the needs of more than 5,500 members in Boone, Brown, Hamilton, Hancock, Hendricks, Johnson, Marion, Montgomery, Morgan and Shelby counties. MIBOR also supplies the BLC service to REALTORS in Decatur, Madison and Putnam counties. MIBOR’s archive of housing data can be found at www.mibor.com.