Market Updates

Housing data released by MIBOR from the BLC® Listing Service today shows (year-over-year):

  • Pending Sales: increased 19.0 percent in August, and increased 17.0 percent for the quarter**
  • Closed Sales: increased 8.0 percent in August, and 3.8 percent for the quarter
  • Median Sales Price: up 9.0 percent in August to $179,000
  • Average Sales Price: up 5.3 percent in August to $216,003
  • New Listings: increased 9.5 percent in August, and 5.9 percent for the quarter
  • Months of Inventory increased to 2.6**

**Disclaimer: On April 3, 2018 MIBOR BLC® Listing Service retired the Status of “Active with Contingency”. Listings with this status demonstrated that an offer to purchase had been accepted by the seller and continued to be reported as “Active” while the buyer addressed details in preparation to move forward with the purchase. These listings were included in “Inventory” numbers and used to calculate “Months’ Supply” and “Days on Market”. As of the April 3, 2018 change, all properties with an accepted offer to purchase were changed to the Status of “Pending – Continue to Show”. Listings with this status are now reported as “Pending Homes.” Decreases in Active Homes, Inventory, Days on Market, and Months’ Supply, as well as increases in the Number of Pending Home Sales are a direct result of this status change and not the result of a shift in the real estate market.*