Sales of single-family homes were up slightly in September. Condo and townhouse sales jumped while leasing activity was flat.

Single-Family:

Sales in September as compared to a year ago were up 1%. The average sales price rose 16% and the median sales price was up by 19%. Sales were concentrated in the upper price ranges. There are very few homes for sale below $200,000.

Pending sales increased a whopping 46% so we can look forward to good sales numbers in October.

The number of new listings climbed by 31% and the active listings by 16%. It’s good to see more supply coming on the market but these increases only raised the months of inventory to 1.3 months. Still a very short supply.

Sales: 120

Average Sales Price: $245,402

Median Sales Price: $232,500

Pending Sales: 117

New Listings: 126

Active Listings: 128

Months of inventory: 1.3

Condos and Townhomes:

Condo and townhomes sales jumped 80%. The average sales price increased by 20% while the median price was up by 42%. Pending sales also showed a healthy increase of 50%. There was a small rise of 5% in the number of new listings but the active listings fell by 25% dropping the months of inventory to 1.6 months.

Sales: 18

Average Sales Price: $99,503

Median Sales Price: $97,880

Pending Sales: 18

New Listings: 23

Active Listings: 27

Months of Inventory: 1.6

Leases:

New Leases declined by 3%. The average rent fell by 4% while the median rent was flat. This is just some monthly gyration in the makeup of leases for the month. Pending leases increased by 3%. The new listings climbed by 16% and the active listings grew by 10%. The months of inventory only increased to 1.3 months. A very tough market to find a good rental.

Leases: 38

Average Rent: $1,434

Median Rent: $1,500

Pending Leases: 33

New Listings: 50

Active Listings: 55

Months of Inventory: 1.3

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