Sales and Pending sales were off slightly. I’s still a seller’s market.
Sales were off by 5% in October as compared to a year ago. Pending sales were down by 4%. Would not read anything into a 1 months number. Average sales price jumped 15% while the median sales price climbed by 11%. Sales continue to be shewed to the higher price ranges. New listings increased by 8% and the active listings rose 5%. These increased only caused the months of inventory to rise to 1.4 months. We would have to see many more months of increasing supply to reach a 6 months supply which is considered a balanced market.
Average Sales Price: $174,420
Median Sales Price: $152,000
Pending Sales: 178
New Listings: 180
Active Listings: 221
Months of Inventory: 1.4
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Information provided by The Real Estate Center at Texas A&M