Monthly Indicators A RESEARCH TOOL PROVIDED BY THE METROPOLITAN INDIANAPOLIS BOARD OF REALTORS®
September 2012 Around the nation, most housing metrics should follow their usual, autumnal movements – higher inventory and days on market, fewer sales. That applies only to month-to-month seasonal trends. Most indicators should show impressive improvement on a year-over-year basis. As we all know, all real estate is local – down to the city neighborhood, suburban development and exurban lot. Let's dive into some local figures. The third quarter of 2012 showed more positive gains; a trend central Indiana home buyers and sellers have enjoyed all year. In the quarter ending in September, New Listings in central Indiana were flat, increasing by less than one percent. Pending Sales were up 14.9 percent and Closed Sales increased by 13.1 percent. Prices were stable but not dramatically higher, reinforcing the slow and steady gains seen throughout 2012. In the third quarter, Median Sales Price increased 2.0 percent to $131,500. Average Sales Price inched up by 1.2 percent to $166,211. The balance of housing stock continues to stabilize with Months Supply of Inventory down 23.1 percent to 7.6 months. So the third quarter played out much like the first two: impressive amounts of consumer interest and slow, steady price gains. The measure of success remains the same as well. Employment growth remains critical. Housing experts are looking for more than just sluggish job growth to stimulate the housing market and lead a true recovery.
Quick Facts + 13.1%
+ 2.0%
- 11.0%
Quarter-Over-Quarter Change in Closed Sales
Quarter-Over-Quarter Change in Median Sales Price
Quarter-Over-Quarter Change in Inventory
Market Overview New Listings Pending Sales Closed Sales Median Sales Price Average Sales Price Percent of Original List Price Received Inventory of Homes Available Months Supply of Inventory
2 3 4 5 6 7 8 9 10
Click on desired metric to jump to that page.
Data obtained from the Broker Listing Cooperative® (BLC®). Powered by 10K Research and Marketing.
Market Overview Key market metrics for the current month and year-to-date figures.
Rolling 12 Months New Listings
Pending Sales
Closed Sales
Median Sales Price
Average Sales Price
Percent of Original List Price Received At Sale
Total Active Listings Available at Month End
Months Supply of Inventory
Rolling 6 Months
Rolling 3 Months
Monthly
Current
Prior Year
+/–
Current
Prior Year
+/–
Current
Prior Year
+/–
Current
Prior Year
+/–
Jul
2012
39,170
41,213
- 5.0%
22,649
22,375
+ 1.2%
11,275
11,130
+ 1.3%
3,563
3,320
+ 7.3%
Aug
2012
39,118
40,709
- 3.9%
22,879
23,028
- 0.6%
10,716
10,650
+ 0.6%
3,443
3,495
- 1.5%
Sep
2012
38,995
40,269
- 3.2%
21,587
21,531
+ 0.3%
9,858
9,790
+ 0.7%
2,852
2,975
- 4.1%
Jul
2012
23,405
21,163
+ 10.6%
13,655
12,177
+ 12.1%
7,079
6,261
+ 13.1%
2,337
1,974
+ 18.4%
Aug
2012
23,683
21,296
+ 11.2%
14,102
12,646
+ 11.5%
6,909
6,053
+ 14.1%
2,269
1,991
+ 14.0%
Sep
2012
23,884
21,195
+ 12.7%
13,609
12,141
+ 12.1%
6,511
5,669
+ 14.9%
1,905
1,704
+ 11.8%
Jul
2012
23,405
20,425
+ 14.6%
13,288
11,420
+ 16.4%
7,711
6,616
+ 16.6%
2,470
2,138
+ 15.5%
Aug
2012
23,683
21,004
+ 12.8%
14,457
12,562
+ 15.1%
7,755
6,774
+ 14.5%
2,593
2,308
+ 12.3%
Sep
2012
24,389
21,198
+ 15.1%
14,679
12,742
+ 15.2%
7,223
6,387
+ 13.1%
2,160
1,941
+ 11.3%
Jul
2012
$127,000
$122,225
+ 3.9%
$130,000
$124,500
+ 4.4%
$135,000
$128,175
+ 5.3%
$135,000
$130,000
+ 3.8%
Aug
2012
$127,500
$122,700
+ 3.9%
$132,000
$125,500
+ 5.2%
$134,900
$129,500
+ 4.2%
$130,000
$127,000
+ 2.4%
Sep
2012
$127,500
$124,000
+ 2.8%
$133,000
$127,500
+ 4.3%
$131,500
$128,900
+ 2.0%
$130,000
$128,900
+ 0.9%
Jul
2012
$159,523
$153,576
+ 3.9%
$162,310
$154,908
+ 4.8%
$168,804
$162,180
+ 4.1%
$172,054
$167,473
+ 2.7%
Aug
2012
$159,806
$153,907
+ 3.8%
$165,000
$157,957
+ 4.5%
$169,174
$165,122
+ 2.5%
$166,087
$163,859
+ 1.4%
Sep
2012
$159,717
$155,031
+ 3.0%
$165,670
$160,554
+ 3.2%
$166,211
$164,172
+ 1.2%
$159,663
$160,770
- 0.7%
Jul
2012
89.0%
89.5%
- 0.5%
89.9%
89.4%
+ 0.6%
90.7%
89.4%
+ 1.4%
90.5%
88.9%
+ 1.8%
Aug
2012
89.1%
89.4%
- 0.3%
90.1%
89.4%
+ 0.8%
90.3%
89.2%
+ 1.2%
89.6%
88.9%
+ 0.7%
Sep
2012
89.3%
89.2%
+ 0.1%
90.3%
89.2%
+ 1.3%
90.0%
88.6%
+ 1.6%
90.1%
87.8%
+ 2.6%
Jul
2012
15,396
17,170
- 10.3%
15,235
17,250
- 11.7%
15,633
17,676
- 11.6%
15,610
17,592
- 11.3%
Aug
2012
15,253
17,035
- 10.5%
15,445
17,402
- 11.2%
15,630
17,587
- 11.1%
15,611
17,327
- 9.9%
Sep
2012
15,089
16,906
- 10.7%
15,424
17,367
- 11.2%
15,320
17,206
- 11.0%
14,738
16,699
- 11.7%
Jul
2012
8.3
9.7
- 13.8%
7.9
10.1
- 21.3%
8.0
10.5
- 24.2%
7.8
10.3
- 24.1%
Aug
2012
8.1
9.7
- 15.8%
7.9
10.2
- 22.1%
7.9
10.3
- 23.9%
7.8
9.9
- 21.7%
Sep
2012
8.0
9.7
- 17.7%
7.8
10.2
- 22.9%
7.6
9.9
- 23.1%
7.3
9.5
- 23.3%
Data obtained from the Broker Listing Cooperative® (BLC®). Powered by 10K Research and Marketing. | Click for Cover Page | 2
New Listings A count of the properties that have been newly listed on the market in a given month, regardless of what status they're currently in.
6 Month
12 Month
September
3 Month
46,813 40,269
24,924
38,995
21,531
2010
2011
3,415
11,517 21,587
9,790
2,975
9,858
2,852
One-Year Change:
One-Year Change:
One-Year Change:
One-Year Change:
- 3.2%
+ 0.3%
+ 0.7%
- 4.1%
Two-Year Change:
Two-Year Change:
Two-Year Change:
- 16.7%
Two-Year Change:
- 13.4%
- 14.4%
- 16.5%
2012
2010
2011
2012
2010
2011
2010
2012
2011
2012
Historical New Listings 7,000
6,000
5,000
4,000
3,000
2,000
1,000 1-2005
7-2005
1-2006
7-2006
1-2007
7-2007
1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
Data obtained from the Broker Listing Cooperative速 (BLC速). Powered by 10K Research and Marketing. | Click for Cover Page | 3
Pending Sales A count of the properties on which contracts have been accepted in a given month, regarldless of whether or not the sale closes.
September
3 Month
6 Month
12 Month
6,511 24,149
13,609
23,884
12,248
21,195
2010
2011
5,491
12,141
5,669 1,805
1,905 1,704
One-Year Change:
One-Year Change:
One-Year Change:
One-Year Change:
+ 12.7%
+ 12.1%
+ 14.9%
+ 11.8%
Two-Year Change:
Two-Year Change:
Two-Year Change:
- 1.1%
Two-Year Change:
+ 11.1%
+ 18.6%
+ 5.5%
2012
2010
2011
2012
2010
2011
2010
2012
2011
2012
Historical Pending Sales 3,500
3,000
2,500
2,000
1,500
1,000 1-2005
7-2005
1-2006
7-2006
1-2007
7-2007
1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
Data obtained from the Broker Listing Cooperative速 (BLC速). Powered by 10K Research and Marketing. | Click for Cover Page | 4
Closed Sales A count of the actual sales that have closed in a given month.
6 Month
12 Month
September
3 Month 14,679
24,389
23,074
2,160
6,387
12,742
12,518
21,198
7,223 1,941 1,747 5,147
One-Year Change:
One-Year Change:
One-Year Change:
One-Year Change:
+ 15.1%
+ 15.2%
+ 13.1%
+ 11.3%
Two-Year Change:
Two-Year Change:
Two-Year Change:
Two-Year Change:
+ 17.3%
+ 40.3%
+ 23.6%
+ 5.7% 2010
2011
2012
2010
2011
2010
2012
2011
2010
2012
2011
2012
Historical Closed Sales 4,000
3,500
3,000
2,500
2,000
1,500
1,000 1-2005
7-2005
1-2006
7-2006
1-2007
7-2007
1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
Data obtained from the Broker Listing Cooperative速 (BLC速). Powered by 10K Research and Marketing. | Click for Cover Page | 5
Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.
6 Month
12 Month $120,000
2010
$127,500
$124,000
2011
$125,000
3 Month $133,000
$127,500
$123,800
September $128,900
$131,500
$128,900
$130,000
$117,750
One-Year Change:
One-Year Change:
One-Year Change:
One-Year Change:
+ 2.8%
+ 4.3%
+ 2.0%
+ 0.9%
Two-Year Change:
Two-Year Change:
Two-Year Change:
Two-Year Change:
+ 6.3%
+ 6.4%
+ 6.2%
+ 10.4%
2012
2010
2011
2012
2010
2011
2012
2010
2011
2012
Historical Median Sales Price 140,000
130,000
120,000
110,000
100,000
90,000 1-2005
7-2005
1-2006
7-2006
1-2007
7-2007
1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
Data obtained from the Broker Listing Cooperative速 (BLC速). Powered by 10K Research and Marketing. | Click for Cover Page | 6
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.
$149,311
2010
3 Month
6 Month
12 Month $159,717
$155,031
2011
$155,329
$160,554
$165,670
September $164,172
$157,747
$166,211
$160,770
$159,663
$147,728
One-Year Change:
One-Year Change:
One-Year Change:
One-Year Change:
+ 3.0%
+ 3.2%
+ 1.2%
- 0.7%
Two-Year Change:
Two-Year Change:
Two-Year Change:
Two-Year Change:
+ 7.0%
+ 6.7%
+ 5.4%
+ 8.1%
2012
2010
2011
2012
2010
2011
2012
2010
2011
2012
Historical Average Sales Price 180,000
170,000
160,000
150,000
140,000
130,000
120,000 1-2005
7-2005
1-2006
7-2006
1-2007
7-2007
1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
Data obtained from the Broker Listing Cooperative速 (BLC速). Powered by 10K Research and Marketing. | Click for Cover Page | 7
Percent of Original List Price Received Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
6 Month
12 Month 91.5%
2010
89.2%
2011
89.3%
91.8%
3 Month 89.2%
90.3%
90.5%
September 88.6%
89.9%
90.0%
87.8%
90.1%
One-Year Change:
One-Year Change:
One-Year Change:
One-Year Change:
+ 0.1%
+ 1.3%
+ 1.6%
+ 2.6%
Two-Year Change:
Two-Year Change:
Two-Year Change:
- 2.4%
Two-Year Change:
- 1.6%
- 0.5%
+ 0.2%
2012
2010
2011
2012
2010
2011
2010
2012
2011
2012
Historical Percent of Original List Price Received 98% 96% 94% 92% 90% 88% 86% 84% 1-2005
7-2005
1-2006
7-2006
1-2007
7-2007
1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
Data obtained from the Broker Listing Cooperative® (BLC®). Powered by 10K Research and Marketing. | Click for Cover Page | 8
Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month.
17,287
3 Month
6 Month
12 Month
18,273
16,906
18,644 17,367
2011
18,246
17,206
16,699
15,089
15,424
15,320
One-Year Change:
One-Year Change:
One-Year Change:
One-Year Change:
- 10.7%
- 11.2%
- 11.0%
- 11.7%
Two-Year Change:
Two-Year Change:
Two-Year Change:
Two-Year Change:
- 15.6%
- 17.8%
- 19.2%
- 12.7% 2010
September
2012
2010
2011
2012
2010
2011
14,738
2010
2012
2011
2012
Historical Inventory of Homes Available 35,000
30,000
25,000
20,000
15,000
10,000 1-2007
7-2007
1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
Data obtained from the Broker Listing Cooperative速 (BLC速). Powered by 10K Research and Marketing. | Click for Cover Page | 9
Months Supply of Inventory 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.
3 Month
6 Month
12 Month
September 9.5
10.2
9.7
7.3
8.0
2010
2011
9.9
9.5
9.1
8.7
9.5
7.8
7.6
One-Year Change:
One-Year Change:
One-Year Change:
One-Year Change:
- 17.7%
- 22.9%
- 23.1%
- 23.3%
Two-Year Change:
Two-Year Change:
Two-Year Change:
Two-Year Change:
- 8.6%
- 14.3%
- 20.0%
- 23.6%
2012
2010
2011
2010
2012
2011
2010
2012
2011
2012
Historical Months Supply of Homes for Sale 13
12
11
10
9
8
7 1-2007
7-2007
1-2008
7-2008
1-2009
7-2009
1-2010
7-2010
1-2011
7-2011
1-2012
7-2012
Data obtained from the Broker Listing Cooperative速 (BLC速). Powered by 10K Research and Marketing. | Click for Cover Page | 10