Sales Remain Strong!

Single-Family:

April was another good months for sales. As compared to a year ago sales sales were up by 15%.

The average sales price rose 4% while the median sales price increased by 9%. We continue to see sales concentrated in the upper price ranges. The $200,000 to $399,999 price range remains the strongest part of the market. There was a pick up in sales in the price ranges between $150,000 to $199,999 as some new supply came on the market in these ranges. Also saw an increase in sales in the $400,000 to $699,999 range.

Pending sales came in at up 17% so it looks like May will also be a good months. Unfortunately there was a drop of 2% in the number of new listings but the active listings rose 2% leaving us at a 2.4 months supply. Very short of the 6 months normally considered a balanced suppl;y/demand number.

Sales: 9,178

Average Sales Price: $274,368

Median Sales Price: $220,000

Pending Sales: 10,210

New Listings: 11,958

Active Listings: 17,819

Months of Inventory: 2.4

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