Page 26 - Davis Custom Homes Magazine final3

26
MIBOR REPORT
2015 has been a year of solid growth for the residential real estate
With nearly a full year of data to review as we close out November, it’s safe to say 2015 has been a year of solid growth for the residential real estate market. While 2014 brought stability back to the market, 2015 represented progress in nearly every metric month after month. A review of three, six and 12-month data shows increases in New Listings and strong increases in Pending Sales and Closed Sales. Prices continue on their steady and stable 4-5 percent climb. Low inventory numbers continue to create the main point of tension in the market.
Market Overview
Key market metrics for the current month and year-to-date figures.
November itself fared well. The slight dip in Closed Sales in October reversed trend in November with Closed Sales up 3.5 percent. Pending Sales rose an impressive 14.8 percent in November over November one year ago.
New Listings in central Indiana increased 11.7 percent to 2,594. Inventory levels fell 4.2 percent to 11,787 units. Prices continued to gain traction. The Median Sales Price increased 5.5 percent to $145,000. Months Supply of Inventory was down 11.7 percent to 4.4 months. NewsoftheFederalReserverateincrease,whilelargelyinnocuous to mortgage rates at this point, may have a psychological effect on buyers. More sellers are needed as we head into 2016 to bring inventory levels up to meet the pent-up
New Listings
Pending Sales
Closed Sales
Median Sales Price
Average Sales Price
Percent of Original List Price Received at Sale
Total Active Listings Available at Month End
Months Supply of Inventory
Sep Oct Nov Sep Oct Nov Sep Oct Nov Sep Oct Nov Sep Oct Nov Sep Oct Nov Sep Oct Nov Sep Oct Nov
2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015
Current
42,618 42,694 42,965 29,724 29,868 30,145 31,876 31,844 31,916 $145,500 $146,000 $146,400 $182,659 $182,640 $183,125 93.6% 93.7% 93.7%
Prior Year
41,321 41,476 41,388 26,782 27,012 27,156 29,135 29,368 29,382 $138,338 $139,000 $139,900 $174,256 $175,202 $175,771 93.1% 93.2% 93.2%
+ / –
+ 3.1% + 2.9% + 3.8% + 11.0% + 10.6% + 11.0% + 9.4% + 8.4% + 8.6% + 5.2% + 5.0% + 4.6% + 4.8% + 4.2% + 4.2% + 0.6% + 0.5% + 0.5%
Current Prior Year
25,370 25,265 24,035 24,135 22,088 21,868 17,255 15,675 16,657 15,297 15,721 14,346 18,863 17,321 18,801 17,601 17,796 16,652 $151,900 $143,500 $150,000 $144,000 $150,000 $144,000 $188,782 $179,703 $187,946 $180,325 $187,679 $180,659 94.4% 94.0% 94.3% 93.9% 94.1% 93.6%
+ / –
+ 0.4% - 0.4% + 1.0% + 10.1% + 8.9% + 9.6% + 8.9% + 6.8% + 6.9% + 5.9% + 4.2% + 4.2% + 5.1% + 4.2% + 3.9% + 0.5% + 0.5% + 0.6%
Current Prior Year
11,456 11,749 10,740 10,739 9,396 9,302 8,149 7,417 7,827 7,218 7,315 6,548 9,270 8,718 8,463 8,372 7,616 7,566 $150,000 $144,000 $147,100 $142,400 $145,000 $140,000 $189,006 $179,900 $182,511 $177,727 $180,510 $175,237 94.3% 93.7% 93.9% 93.4% 93.4% 93.0%
+ / –
- 2.5% + 0.0% + 1.0% + 9.9% + 8.4% + 11.7% + 6.3% + 1.1% + 0.7% + 4.2% + 3.3% + 3.6% + 5.1% + 2.7% + 3.0% + 0.6% + 0.5% + 0.4%
Current
3,412 3,390 2,594 2,692 2,470 2,153 2,787 2,672 2,157 $147,500 $142,000 $145,000 $181,298 $176,881 $183,988 93.7% 93.4% 93.0% 12,774 12,571 11,787 4.8
4.7
4.4
+ / –
- 6.9%
+ 2.3%
+ 11.7%
+ 14.7% + 6.2% + 14.8% + 0.4% - 1.2% + 3.5% + 3.9% + 1.5% + 5.5% + 5.2% - 0.2% + 4.2% + 0.5% + 0.3% + 0.5% - 8.0% - 5.6% - 4.1% - 15.9% - 12.9% - 11.7%
Rolling 12 Months
Rolling 6 Months
Rolling 3 Months
Monthly
Prior Year
3,665 3,314 2,323 2,346 2,326 1,876 2,777 2,704 2,085 $141,900 $139,900 $137,500 $172,319 $177,175 $176,603 93.2% 93.1% 92.5% 13,882 13,313 12,289 5.7
5.4
5.0
There are no rolling figures for Total Active Listings Available at Month End or Months Supply of Inventory 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.
DataobtainedfromtheBrokerListingCooperative®(BLC®).Totalsroundedtowholenumberortenthofapercent;roundingerrormayoccur.PoweredbyShowingTime10K. | 2