Home Sales were off the charts in July in Prosper

July saw a 62% increase in single family homes as compared to last July! Pending sales climbed 59% so August sales are looking real good.

The average sales price rose 2% while the median sales price increased 3%. Now for the bad news if you are a buyer. New listings fell only 1% but with all the sales the number of active listings declined by 40% taking the months of inventory down to 2.2 months. What does that mean? Well simply buyers will have fewer choices and face more competition for the best homes.

Sales: 223

Average Sales Price: $508,926

Median Sales Price: $475,000

Pending Sales: 208

New Listings: 163

Active Listings: 279

Months of Inventory: 2.2

Information provided by The Real Estate Center

#RealtorProsper #RealEstateProsper #HomesForSaleProsper