Sales were up. Pending sales increase. It’s very much a Seller’s Market

Single-Family:

Sales jumped 31% in March as compared to a year ago. The average sales price declined by 3% but the median sales price rose by 3%. Just some gyrations in the markup of the sales. Pending sales were up by 21% so April looks like it will be a good month. The number of new listings was up by a nice 12% and the active listings were also up by 12%. However these increases only cause the months of inventory to rise  to 1.5 months. Still very much into Seller’s territory.

Sales: 92

Average Sales Price: $364,969

Median sales Price: $359,000

Pending Sales: 81

New Listings: 84

Active listings: 101

Months of Inventory: 1.5 months

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