January Posts Strong Housing Numbers

As we delve into a new year, the central Indiana housing market is seeing positive signs. Uncharacteristically warm weather, continued low rates and ample inventory combined for a good kind of “perfect storm” resulting in the strongest January in years. A strong showing in the rolling three and six-month data adds to the optimistic picture.

The January Monthly Indicators Report of BLC® listing service date released by MIBOR today shows that new listings in central Indiana decreased 14.7 percent for the three months ending in January and shrank 8.8 percent in January only data. Pending sales were up 13.1 in the three-month view and up 18.3 percent in January alone. Months supply of inventory was down 12.8 percent to 7.6 months in January. Closed sales were equally strong with Units Sold up 15.4 for the quarter ending in January and an impressive 28 percent in January alone.

Home prices began the year on steady note. The Median sales price increased 4.7 percent to $116,213 in January and nearly even up 0.3 percent for the three months ending in January.  Average sales price was up slightly for both the quarter and the month.

The data was pulled from the BLC® listing service on February 16.