Robust sales and stable listing activity have combined to result in months of housing inventory dropping to less than 7 months across central Indiana. The October Monthly Indicators Report of BLC? listing service data released by MIBOR today reveals closed sales for the three months ending in October are up 18.0 percent. In October only numbers, closed sales increased 33.0 percent. Pending sales are equally strong, up 18.5 percent for the three-month comparison and up 31.2 percent in October.
New Listings in central Indiana increased 4.4 percent in October, but dipped less than one percent for the three months ending in October. This lessening listing activity coupled with strong sales have brought inventory to 6.8 months for October and 7.3 months for the three month period ending in October.
Prices are stable. The Median Sales Price increased 1.9 percent to $128,750 for the three months ending in October. Averages Sales Price dipped by 0.2. percent in the three-month comparison and 1.2 percent for October alone.
Source: http://www.realestatelinks.com/2012/11/local-market-review-sales-strong-inventory-balancing/
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