Huge Jump in Sales

Single-Family:

August saw sales jump up 28%. The average sales price  increased 5% and the median sales price climbed 7%. Pending sales were a problem down 9%. Looks like September sales will probably be down. New listings fell 15%  and the active listings were off by 24%. This caused the months of inventory to fall to 1 month.

With inventory levels this low, buyers are having a very hard time finding a home to purchase. It’s very much a Seller’s Market!

Sales: 151

Average Sales Price: $262,148

Median Sales Price: $246,300

Pending Sales: 127

New Listings: 111

Active Listings: 104

Months of Inventory: 1

Information provided by the real estate center at Texas A&M