Single-Family:

Sales remained strong up by 11%. The average sales price jumped 22% and the median sales price was up 19%. As in other areas, these large increases are due to the sales being skewed to the upper price ranges. Pending sales climbed by 12% so we can anticipate that July will also be up. The number of new listings increased by 20% but that active listings declined by 18%. The months of inventory now stands at 1.3 months.

Sales: 229

Average Sales Price: $282,040

Median Sales Price: $240,000

Pending Sales: 183

New Listings: 254

Active Listings: 202

Months of Inventory: 1.3

Leases:

Leasing activity climbed by 30% in June. The average rent increases by 5% and the median rent by 10% as compared to a year ago. The number of pending leases was up by 185%. The new listings jumped by 22% and the active listings by 26%. However, these increases only brought the months of inventory to 1.1 months. Still a very tight market.

Leases: 69

Average Rent: $1,766

Median Rent: $ 1,750

Pending Leases: 37

New Listings: 72

Active Listings: 53

Months of Inventory: 1.1

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