Single-Family:

Single-Family sales were up by by 12% in September as compared to a year ago. The average sales price rose by 16% while the median sales price jumped by 21%. As in other markets, these large increases are caused by most of the sales being concentrated in the upper price ranges.

Pending sales increased by 17% so October should be a good month. The number of new listings climbed by 7% while the active listings were up by 8%. It’s helpful to see more homes com on the market but these increases only caused the months of inventory to increase to 2.4 months. We are still very short of what is considered to be a balanced market.

Sales : 65

Average Sales price: $349,658

Median Sales Price: $3423,000

Pending Sales: 70

New Listings: 97

Active Listings: 152

Months of Inventory: 2.4

Condos and Townhouses:

Condo and Townhouse sales increased by 88%. The percentage is exaggerated due to last September’s sales being low.  The average sales price jumped by 34% and the median sales price rose by 15%. As in single-family the averages are being pulled up by more sales in the upper price ranges.

Pending sales climber by 58%. the number of new listings increased by 22% but the active listings fel by 69%. The months of inventory now stands at 1.5 months.

Sales: 22

Average Sales Price: $73,202

Median Sales Price: $58,500

Pending Sales: 38

New Listings: 39

Active listings: 42

Months of Inventory: 1.5

Leases:

Leasing activity increased by 26%. The average rent rose by 11% and the median rent by 15%.

Pending Leases jumped 38%. The new listings climbed by 11% but the active listings fell by 11%. The months of Inventory declined to 1.9 months.

Leases: 29

Average Rent: $1,295

Median Rent: $1,150

Pending Leases: 18

New Listings: 51

Active Listings: 56

Months of Inventory: 1.9 months

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