Single-Family:

Sales were up by 1% in July. The average sales price increased by 15% and the median sales price by 17%. As in past months these increases have largely been driven by more sales occurring in the upper price ranges. Pending sales declined by 9%. this is a little unusual because in other areas in july we have seen strong pending sales numbers. The number of new listings increased a health 19% but the active listings remained flat and the months of inventory declined slightly to 2.1 months. About 25% of the active listings are builder new homes.

Sales: 161

Average Sales Price: $345,286

Median Sales Price: $300.000

Pending Sales: 146

New Listings: 221

Active Listings: 259

Months of Inventory: 2.1

Leases:

Leasing activity declined by 19%. The average rent fell by 8% and the median rent dropped by 6%.

Not sure what caused these declines because it is atypical when compared to other areas of the Metroplex. Pending leases were up by 325%. The new listings increased by 16% and the active listings by 37%. This caused the months of inventory to rise to 1.3 months. Still very low.

Leases: 58

Average Rent: $1,777

Median Rent: $1,700

Pending Leases: 51

New Listings: 79

Active Listings: 67

Months of Inventory: 1.3

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