Supply continues to fall!
April 2020 was the first full month of the lock down so the comparisons are a little out of whack.
Sales of single family homes shot up 23% compared to last April. Pending sales rose 46%. The average sales price increased by 25% while the median sales price saw a 23% rise. New listings came in with a 20% increase but this could not keep pace with all the sales and the number of active listings declined by 87%. The months of inventory now stands at 0.4 months.Buyers are facing very stiff competition for the best homes.
Average Sales Price: $630,353
Median Sales Price: $556,000
Pending Sales: 172
New Listings: 175
Active Listings: 58
Months of inventory: 0.4 months
Information provided by The Texas Real Estate Center
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