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.
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
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