Sales up slightly. Pending sales take a big hit.

Single family homes sales managed to eke out a 1% increase. However, pending sales fell 38%. The shortage of homes for sale combined with the recent price increases are starting to take a toll on buyers. The average sales price climbed 24% compared to last June and the median sales price rose 19%. The number of new listings didn’t help down 25%. Active listings were 34% lower than last year, The months of inventory now stands at 0.8 months. 6 months is considered a balanced market.

Sales: 127

Average Sales Price: $418,894

Median Sales Price: $382,500

Pending Sales:109

New Listings: 132

Active Listings: 88

Months of Inventory: 0.8

Information provided by The Texas Real Estate Center

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