Sales were down but pending sales were up.
Sales were off by 9% in January. However,pending sales were up by 11%. It’s really a wash.
The average sales price jumped 22% while the median sales price climber 9%. Sales are concentrated in the upper price ranges and this months there were several large sales that effected the average sales price. We did see a nice increase of 10% in the new listings and this caused the active listings to rise by 22%. The months of inventory increased to 1.8 months which is still not very much supply.
Average Sales Price: $459,319
Median Sales Price: $372,500
Pending Sales: 72
New Listings: 100
Active Listings: 175
Months of Inventory: 1.8
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Information provided by The Real Estate Center at Texas A&M.