Single-Family:

Sales were up a small 25%. The average sales price increased 10% while the median sales price rose 3%. Pending sales climbed 6%. There was a nice jump of 9% in the number of new listings and the active listings increased 13%. We really need more homes on the market! The months of inventory now stands at 2.8 months. This is well short of the 6 months that is normally considered a balanced supply/demand number. It’s a Seller’s Market.

Sales: 99

Average Sales Price: $432,938

Median Sales Price: $375,000

Pending Sales: 95

New Listings: 131

Active Listings: 250

Months of Inventory: 2.8

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