Sales took a nice jump. More inventory!

Single-Family:

Sales increased by 21% from a year ago. The average sales price was flat while the median sales price declined 2%. A little moderation in the price increase? Or just a pause? Probably just a pause.

The pending sales rose 12%. there was a nice 18% increase in the number of new listings and a 48% increase in the active listings. These increases raised the months of inventory to 1.3 months. while this is helpful, we are still a long way from a balanced 6 month supply. Seller’s still have the advantage.

Sales: 289

Average Sales Price: $358,521

Median Sales Price: $310,000

Pending Sales: 304

New Listings: 392

Active Listings: 397

Months of Inventory: 1.3

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