Seward Real Estate Blog

Average Home Sale Price Increases in Six Counties
MIBOR releases three-month 2008 housing data for central Indiana

INDIANAPOLIS – Average sale price increased in six central Indiana counties from March 2008 through May 2008 compared to the same period last year, according statistics released this month by the Metropolitan Indianapolis Board of REALTORS® (MIBOR).

Boone, Brown, Hendricks, Montgomery, Morgan and Putnam Counties all saw an increase in average sale price during these three months, compared to the same period in 2007. Increases ranged from a 16 percent jump in Brown County to an 8 percent increase in Boone County.

Other key findings:

• Total units sold in central Indiana between March 2008 and May 2008 decreased by 20 percent from the same three-month period last year to 6,831. December 2007-May 2008 units sold decreased 19 percent from December 2006-May 2007, while units sold from May 2007- May 2008 decreased 15 percent from the same period in 2006-2007.
  
• In March - May 2008, total units pended decreased 15 percent from the same period in 2007. The six-month snapshot reflects a 14 percent decrease from December 2007-May 2008 compared to the same period last year. Units pended over the last year have decreased 12 percent from May 2007-May 2008.
  
• Average months of housing supply for the central Indiana area is 9.2 months, compared to 8.9 in 2007 and 8.5 in 2006.
  
• New listings added between March and May 2008 decreased 16 percent from the same period in 2007. December 2007-May 2008 average sale price also decreased 10 percent, and the 12-month comparison shows a 7 percent decrease from the same period in 2006-2007.
  

These statistics are based on data generated by MIBOR on June 19, 2008. Data is updated daily and can be accessed by calling 317-956-5232.