Market Activity for the MIBOR REALTOR® …...Closed Sales were up 10.5 percent in October compared to October 2016. Pending Sales increased 15.6 percent to 2,759, and New Listings
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October 2017For residential real estate in 2017, the news has continued to provide a relative sense of calm for both buyers and sellers. The national unemployment rate registered in at 4.1 percent for October 2017, which means that joblessness has not been this low in the U.S. since December 2000. Another positive, mortgage rates have held steady at or near 3.9 percent. Historically, the average rate has been around 6.0 percent. These factors help to keep the pool of potential buyers full, even during the so-called off-season of home sales.
Closed Sales were up 10.5 percent in October compared to October 2016. Pending Sales increased 15.6 percent to 2,759, and New Listings increased 1.0 percent.
Median Sales Price was up 7.2 percent to $164,000. Average Sales Price rose 7.6 percent in October. Absorption Rate was down 18.9 percent to 3.0.
Although inventory levels are low in many markets, there has largely been enough listing and building activity, or at least conversation about future activity, to maintain a positive attitude about the prospects of buying or selling a home. Low affordability has started to become a recent topic of conversation and is worth watching. But with a healthy economy, level of demand and national unemployment rate, sellers are going to continue to see strong prices for their homes.
Active Listings and Closed Sales by Price Range
A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
+ 4.8% + 6.4% - 15.2%
Report reflects activity for the month reported to the BLC® on the 12th business day of the following month. It is a snapshot of reported activity. Totals rounded to whole number or tenth of a percent; rounding error may occur.
Market Overview
Current Prior Year + / – Current Prior Year + / – Current Prior Year + / – Current Prior Year + / –
Rolling 12 Months MonthlyRolling 6 Months Rolling 3 Months
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.Months Supply of Inventory / Absorption Rate
Pct. of Original List Price Received at Sale
Average Sales Price
Median Sales Price
Total Active Listings Available at Month End
Closed Sales
Pending Sales
New Listings
New ListingsA count of the properties that have been newly listed on the market in a given month, regardless of what status they're currently in.
Percentage found when dividing a property’s sales price by its original list price, then taking the average for allproperties sold in a given month, not accounting for seller concessions.
The number of properties available for sale in active status at the end of a given month. There are no rolling figures for Inventory of Homesfor Sale because this metric is simply a snapshot frozen in time at the end of each month. It does not add up over a period of months.
The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months. There are no rolling figuresfor this metric because it is simply a snapshot frozen in time at the end of each month. It does not add up over a period of months.
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.
In the Counties of: Boone County, Brown County, Decatur County, Hamilton County, Hancock County, Hendricks County, Jonson County, Madison County, Maron County, Montgomery County, Morgan County, Putnam County, Shelby County
Monthly
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.Months Supply of Inventory / Absorption Rate
New Listings
Rolling 12 Months Rolling 6 Months Rolling 3 Months
Percent of Original List Price Received at Sale* 95.3% 94.9% - 0.4% 95.6% 94.3% - 1.3%
Absorption Rate 2.9 3.0 + 4.7%
Single-Family Detached Inventory 339 288 - 15.0%
Townhouse-Condo Inventory 8 10 + 25.0%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Bartholomew County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 94.5% 95.3% + 0.9% 94.4% 94.2% - 0.3%
Absorption Rate 3.5 3.5 - 0.5%
Single-Family Detached Inventory 353 345 - 2.3%
Townhouse-Condo Inventory 8 12 + 50.0%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Boone County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 89.9% 91.8% + 2.1% 88.3% 93.8% + 6.2%
Absorption Rate 10.8 10.0 - 7.4%
Single-Family Detached Inventory 256 255 - 0.4%
Townhouse-Condo Inventory 7 1 - 85.7%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Brown County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 89.6% 93.3% + 4.1% 87.6% 91.8% + 4.7%
Absorption Rate 6.5 4.4 - 33.2%
Single-Family Detached Inventory 133 102 - 23.3%
Townhouse-Condo Inventory 0 4 --
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Decatur County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Hamilton County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 94.8% 96.1% + 1.5% 92.9% 96.7% + 4.0%
Absorption Rate 3.5 2.7 - 22.1%
Single-Family Detached Inventory 371 301 - 18.9%
Townhouse-Condo Inventory 10 7 - 30.0%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Hancock County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 96.3% 96.9% + 0.6% 96.1% 96.4% + 0.3%
Absorption Rate 3.1 2.5 - 17.9%
Single-Family Detached Inventory 726 622 - 14.3%
Townhouse-Condo Inventory 34 50 + 47.1%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Hendricks County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 91.7% 92.7% + 1.1% 89.4% 89.9% + 0.7%
Absorption Rate 5.2 3.3 - 36.6%
Single-Family Detached Inventory 68 59 - 13.2%
Townhouse-Condo Inventory 0 0 --
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Jennings County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 96.1% 96.8% + 0.7% 96.0% 96.2% + 0.2%
Absorption Rate 3.2 2.7 - 14.2%
Single-Family Detached Inventory 707 597 - 15.6%
Townhouse-Condo Inventory 25 29 + 16.0%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Johnson County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 91.9% 93.6% + 1.8% 90.5% 92.2% + 1.8%
Absorption Rate 4.9 3.3 - 32.8%
Single-Family Detached Inventory 588 444 - 24.5%
Townhouse-Condo Inventory 24 19 - 20.8%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Madison County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Marion County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 94.1% 94.0% - 0.1% 94.4% 93.5% - 1.0%
Absorption Rate 5.0 3.5 - 30.3%
Single-Family Detached Inventory 201 144 - 28.4%
Townhouse-Condo Inventory 7 3 - 57.1%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Montgomery County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 94.8% 95.6% + 0.9% 93.3% 95.3% + 2.1%
Absorption Rate 4.5 3.4 - 23.1%
Single-Family Detached Inventory 374 295 - 21.1%
Townhouse-Condo Inventory 10 13 + 30.0%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Morgan County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 94.5% 94.9% + 0.4% 94.8% 94.9% + 0.2%
Absorption Rate 4.6 3.8 - 17.7%
Single-Family Detached Inventory 192 146 - 24.0%
Townhouse-Condo Inventory 7 7 0.0%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Putnam County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.
Percent of Original List Price Received at Sale* 92.5% 94.2% + 1.8% 89.7% 95.4% + 6.3%
Absorption Rate 4.4 3.0 - 30.6%
Single-Family Detached Inventory 189 139 - 26.5%
Townhouse-Condo Inventory 8 8 0.0%
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 monthsused in a dot are proportioned according to their share of sales during that period. | Data obtained from the Broker Listing Cooperative® (BLC®).
There are no rolling figures for Absorption Rate, Single-Family Detached Inventory and Townhouse-Condo 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.
Shelby County
Indianapolis Metro Area
Change inClosed Sales
Change in Median Sales Price
Local Market Update – October 2017 A RESEARCH TOOL PROVIDED BY THE MIBOR REALTOR® ASSOCIATION
* Does not account for seller concessions. | + / – by month may look extreme due to small sample size. | Totals rounded to whole number or tenth of a percent; rounding error may occur.