Single-Family:

Sales slipped by 2% in June. The average sales price increased 7% while the median sales price rose 9%. Still have more sales in the higher ranges pulling up the averages. Pending sales increased 3%. The new listings came in 6% ahead of last year and the active listings up 3%. The months of inventory showed a small increase to 1.6 month. Still a very seller’s market.

Sales: 398

Average Sales Price: $344,708

Median Sales Price: $315,000

Pending Sales: 329

New Listings: 473

Active Listings: 473

Months of Inventory: 1.6

Leases:

Leasing activity was up by 10%. The average rent rose by 7% and the median rent climber by 3%. Pending leases jumped 259%. New listings increased by 14% and the active listings jumped 39%. While we say more inventory coming on the market the months of inventory only increased to 1.6 months. Still a very short supply.

Leases: 208

Average Rent: $1,964

Median Rent: $1,800

Pending Leases: 122

New Listings: 277

Active Listings: 252

Months of Inventory: 1.6

Information provided by The Real Estate Center at Texas A&M.