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
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