Things are looking up in the local real estate market. During the month of March, closed home sales increased by a whopping 38 percent. The increase also helped spur the first quarter of 2013 to an increase over last year.

That's according to a one- and three-month review of local housing data from the Metropolitan Indianapolis Board of Realtors.

In March 2013, the number of closed sales in Montgomery County increased by 38.5 percent when compared to the same month last year. For the first quarter, closed sales increased by 2.4 percent.

The average sales price of homes in Montgomery County increased by 1.6 percent to $95,218 when compared to the same three-month period in 2012 and increased by 9.3 percent in the one-month comparison to $104,333.

In addition, the MIBOR report showed that pending sales increased by 9.7 percent and the months of supply decreased by 30.6 percent to 5.5 months.