Prices rise sharply as buyers snap up available homes!

Homes sales fell 3% in March but pending sales rose 11%. Just looks like some closings were delayed. Prices increased sharply with the average sales price up 25% and median sales price climbing 24%. When it comes to new listings Prosper was no different that other areas in North Texas with a 10% decline. Active listing were 89% lower that last March. Months of inventory is now at 0.3 months. Buyers are struggling to find that dream home and when they do they face very stiff competition from other buyers.

Sales: 113

Average Sales Price: $620,807

Median Sales Price: $555,000

Pending Sales: 168

New Listings: 160

Active Listings: 45

Months of Inventory: 0.3

Information provided by The Real Estate Center