Sales were down slightly but pending sales jumped!
Sales were off by 4% as compared to a year ago but pending sales took a huge jump up 43%. Looks like some closings were pushed into February. With the large amount of pending sales we can safely say that February’s sales will be good. The average sales price increased 6% and the median sales price rose 5%.
New listings climbed 9% but this only translated to a 1% increase the the number of active listings. The months of inventory now stands at 0.8 months. Nobody can call this market anything except a strong Seller’s Market.
Pending Sales: 159
New Listings: 155
Active Listings: 125
Months of Inventory: 0.8
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Information provided by The Real Estate Center at Texas A&M.