Housing data released by MIBOR today shows the second straight month of increased prices and closed sales. October data rides the positive wave created in September with closed sales up 9.4 percent in October compared to October of last year and 5.9 for the three months ending in October. Pending sales were equally encouraging with pending sales increasing 11 percent in October over October of 2013 and 7.3 percent for the three months ending in October.
Sales prices remain strong. The median sales price increased 5.5 percent in the quarter ending in October to $142,400 compared to the same quarter last year and grew 5.6 percent in October only data to $139,900 compared to October 2013. Average sales price also fared well with a 5.4 percent increase in the quarter to $177,727 over the last time period last year and up to $177,175 for October only – a 6.8 percent increase over the same month last year.
New listings increased by 4.9 percent and months supply of inventory rose 2.4 percent to 5.4 months of available homes for sale.
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