Sales up. More supply.

Single-Family:

Sales were up 19% in February as compared to a year ago. There was a slight dip of 3% in the average sales price but the median sales price gained 8%. Pending sales rose a strong 30% so we can look forward to good sales numbers in March. New listings increased 7% and the active listings jumped 20%. Unfortunately, this increase in supply only raised the months of inventory to 1 month, Still way short of a 6 month balanced supply.

Sales: 215

Average Sales Price: $334,991

Median Sales Price: $290,000

Pending Sales: 272

New Listings: 270

Active Listings: 302

Months of Inventory: 1

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