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MIBOR REPORT
August 2016 Reports
After a slowdown in July, Closed and Pending Sales rebounded in central Indiana with double digit increases in both areas. New listings to the market and home sales prices remained essentially unchanged.
Closed Sales were up 12.9 percent in August compared to August 2015. For the three months ending in August, Closed Sales rose 5.9 percent in relation to the same three months of 2015. Pending Sales increased 14.9 percent in August and 8.3 for the quarter ending in August. Months of Inventory fell in the August to August comparison to four months, the same level as in July.
Median Sales Price rose in August 3.3 percent to $154,900. Average Sales prices rose just 1.9 percent in the year of year comparison of August activity. With this welcome rally in August, concern lingers over low inventory. The contradictions of today’s market are clear. Sellers should feel con dent to list homes at fair prices and receive meaningful offers in a healthy residential real estate and overall economic environment. However, there may be lingering worry over the availability of move-in ready homes to replace what was sold.
The increased activity in August may signal a growing con dence among sellers to forge ahead
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Market Overview
Key market metrics for the current month and year-to-date figures.
Jun 2016 Pending Sales Jul 2016 Aug 2016
Rolling 12 Months
Current Prior Year + / –
32,009 28,992 32,068 29,259 32,464 29,378
+ 10.4% + 9.6% + 10.5%
Rolling 6 Months
Current Prior Year + / –
17,294 15,743 18,108 16,721 18,724 17,242
+ 9.9% + 8.3% + 8.6%
Rolling 3 Months
Current Prior Year + / –
13,603 13,914 13,309 13,295 12,888 12,692
- 2.2% + 0.1% + 1.5%
Monthly
Current Prior Year + / –
Jun 2016 New Listings Jul 2016 Aug 2016
43,066 42,911 43,213 42,693 43,307 42,871
+ 0.4% + 1.2% + 1.0%
23,651 23,551 25,352 24,861 26,238 25,953
+ 0.4% + 2.0% + 1.1%
4,603 4,648 4,253 4,106 4,032 3,938
- 1.0% + 3.6% + 2.4%
9,690 9,106 9,306 8,830 9,101 8,406
+ 6.4% + 5.4% + 8.3%
3,189 2,949 2,851 2,792 3,061 2,665
+ 8.1% + 2.1% + 14.9%
Jun 2016 Closed Sales Jul 2016 Aug 2016
33,847 31,324 33,861 31,753 34,249 31,866
+ 8.1% + 6.6% + 7.5%
17,094 15,437 18,857 17,317 20,265 18,511
+ 10.7% + 8.9% + 9.5%
10,720 11,141 10,783
9,593 10,338 10,180
+ 11.7% + 7.8% + 5.9%
3,898 3,697 3,493 3,479 3,392 3,004
+ 5.4% + 0.4% + 12.9%
Jun 2016 Median Sales Price Jul 2016 Aug 2016
Jun 2016 Average Sales Price Jul 2016 Aug 2016
Pct. of Original List Price Received at Sale
Jun 2016 Jul 2016 Aug 2016
$150,000 $150,000 $150,000
$144,000 $145,000 $145,000
+ 4.2% + 3.4% + 3.4%
$186,320 $186,155 $186,536
$180,005 $181,380 $181,879
+ 3.5% + 2.6% + 2.6%
$152,000 $154,900 $156,000
$146,000 $149,900 $150,900
+ 4.1% + 3.3% + 3.4%
$187,066 $189,685 $192,000
$181,702 $185,897 $188,229
+ 3.0% + 2.0% + 2.0%
$158,000 $160,000 $159,500
$153,000 $155,000 $155,000
+ 3.3% + 3.2% + 2.9%
$193,824 $196,329 $196,947
$188,566 $192,377 $193,007
+ 2.8% + 2.1% + 2.0%
95.6% 94.5% 95.8% 94.7% 95.7% 94.7%
+ 1.2% + 1.2% + 1.1%
$163,000 $158,900 $154,900
$158,000 $155,000 $150,000
+ 3.2% + 2.5% + 3.3%
$203,913 $193,845 $192,140
$194,259 $195,481 $188,604
+ 5.0% - 0.8% + 1.9%
94.2% 93.5%
94.4% 93.5%
94.5% 93.6%
+ 0.7% + 1.0% + 1.0%
94.7% 93.7% 95.1% 94.0% 95.3% 94.3%
+ 1.1% + 1.2% + 1.1%
96.0% 94.9% 95.7% 94.6% 95.4% 94.5%
+ 1.2% + 1.2% + 1.0%
Jun 2016 Available at Month End Jul 2016 Aug 2016
Total Active Listings
There are no rolling figures for Total Active Listings Available at Month End or Absorption Rate because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.
11,150 12,857 11,377 12,878 11,334 13,074
- 13.3% - 11.7% - 13.3%
Months Supply of
Inventory / Absorption Jul 2016
Rate
Aug 2016
Jun 2016
4.0 4.9 4.0 4.9 4.0 4.9
- 18.4% - 18.4% - 18.4%
Data obtained from the Broker Listing Cooperative® (BLC®). Report format © 2016 ShowingTime. | 2