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MIBOR REPORT
June 2017
Despite a general slowdown in sales across the country, which cannot be blamed on negative economic news, unemployment remains low and wage growth has held steady or increased for several years in a row. There is strong demand for home buying, emphasized by higher prices and multiple offers on homes for sale in many submarkets. As has been the case for month after month – and now year after year – low inventory is the primary culprit for any sales malaise rather than lack of offers.
Closed Sales were up 6.9 percent to 4,168. Pending Sales increased 10.1 percent to 3,511, and Inventory shrank 16.5 percent to 9,314. Median Sales Price was up 6.4 percent to $173,355. Percent of Original List Price Received increased 0.7 percent to 96.7%. Absorption Rate was down 22.5 percent to 3.1.
With job creation increasing and mortgage rates remaining low, the pull toward homeownership is expected to continue. Consumer con dence remains high and the Central Indiana housing market continues to
lean toward the seller.
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Apr 2017 Pending Sales May 2017 Jun 2017
Rolling 12 Months
Current Prior Year + / –
32,850 31,592 33,046 31,769 33,368 32,009
+ 4.0% + 4.0% + 4.2%
Rolling 6 Months
Current Prior Year + / –
15,402 14,935 16,740 16,048 18,338 17,294
+ 3.1% + 4.3% + 6.0%
Rolling 3 Months
Current Prior Year + / –
11,630 12,043 12,943 13,350 13,348 13,603
- 3.4% - 3.0% - 1.9%
Monthly
Current Prior Year + / –
Apr 2017 New Listings May 2017 Jun 2017
43,033 43,199 43,013 43,111 43,127 43,066
- 0.4% - 0.2% + 0.1%
18,838 19,164 20,528 21,023 23,361 23,651
- 1.7% - 2.4% - 1.2%
4,198 4,547 4,433 4,453 4,717 4,603
- 7.7% - 0.4% + 2.5%
9,216 8,802 10,128 9,623 10,356 9,690
+ 4.7% + 5.2% + 6.9%
3,383 3,235 3,462 3,266 3,511 3,189
+ 4.6% + 6.0% + 10.1%
Apr 2017 Closed Sales May 2017 Jun 2017
36,100 33,058 36,023 33,646 36,293 33,847
+ 9.2% + 7.1% + 7.2%
15,527 14,257 16,551 15,850 17,954 17,094
+ 8.9% + 4.4% + 5.0%
8,307 9,996 10,958
7,716 + 7.7% 9,482 + 5.4% 10,720 + 2.2%
3,117 3,072 3,673 3,750 4,168 3,898
+ 1.5% - 2.1% + 6.9%
Apr 2017 Median Sales Price May 2017 Jun 2017
Apr 2017 Average Sales Price May 2017 Jun 2017
Pct. of Original List Price Received at Sale
Apr 2017 May 2017 Jun 2017
$156,220 $157,500 $159,000
$148,500 $149,350 $150,000
+ 5.2% + 5.5% + 6.0%
$192,967 $194,224 $195,332
$184,659 $185,147 $186,320
+ 4.5% + 4.9% + 4.8%
$154,950 $157,900 $162,000
$145,000 $148,000 $152,000
+ 6.9% + 6.7% + 6.6%
$190,856 $193,368 $197,740
$180,313 $182,305 $187,066
+ 5.8% + 6.1% + 5.7%
$157,000 $162,000 $168,000
$146,500 $153,000 $158,000
+ 7.2% + 5.9% + 6.3%
$191,077 $196,091 $204,487
$180,050 $186,369 $193,824
+ 6.1% + 5.2% + 5.5%
95.0% 94.0% 95.7% 94.9% 96.3% 95.6%
+ 1.1% + 0.8% + 0.7%
$160,000 $168,000 $173,355
$150,000 $159,000 $163,000
+ 6.7% + 5.7% + 6.4%
$194,993 $202,984 $212,914
$184,732 $190,769 $203,913
+ 5.6% + 6.4% + 4.4%
95.0% 94.0%
95.1% 94.1%
95.2% 94.2%
+ 1.1% + 1.1% + 1.1%
94.5% 93.5% 94.9% 94.1% 95.5% 94.7%
+ 1.1% + 0.9% + 0.8%
95.7% 94.8% 96.3% 95.7% 96.7% 96.0%
+ 0.9% + 0.6% + 0.7%
Apr 2017 Available at Month End May 2017 Jun 2017
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.
8,888 10,809 9,015 10,944 9,314 11,150
- 17.8% - 17.6% - 16.5%
Months Supply of
Inventory / Absorption May 2017
Rate
Jun 2017
Apr 2017
3.0 3.9
3.0 3.9
3.1 4.0
- 23.1% - 23.1% - 22.5%
Market Overview
Key market metrics for the current month as well as for rolling segments in which the given value represents 3, 6 or 12 months of activity.
Data obtained from the Broker Listing Cooperative® (BLC®). Report format © 2017 ShowingTime. | 2