Sales were very strong in October. It is still very much a sellers market!

Single-Family:

Sales jumped 29% in October as compared to a year ago. The average sales price increased by 24% and the median sales price by 26%. These large increases are caused by yes a shortage of properties on the market pulling prices up but in addition, a shortage of sales in the lower price ranges.

Pending sales increased by 5%. The number of new listings rose by 14% and the active listings climbed by 12%. While it’s good to see more supply coming on the market, the months of inventory only increased to 1.2 months. Still a very short supply.

Sales: 157

Average Sales Price: $258,027

Median Sales Price: $233,000

Pending Sales: 116

New Listings: 121

Active listings: 121

Months of Inventory: 1.2

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