Single Family:
Sales were up by 12% in December as compared to last December. The average sales price increased by 9% while the median sales price was up by 11%. Pending Sales jumped by a strong 26% which means that January sales should be very good. The number of new listings showed a good increase of 13% but the number of active listings was down by 14% compared to last year. The months of inventory dropped from 2.5 months in november to 2.2 months in december. Until we see the months of inventory start to increase, we can anticipate prices will continue to climb and buyers will have a hard time finding a home to purchase.
Sales: 7,701
Average Sales Price: $249,731
Median Sales Price: $193,940
Pending Sales: 4,845
New Listings: 5,491
Active Listings: 16,518
Months of Inventory: 2.2
Condos and Townhouses:
Sales were up by 15%. The average sales price increased by 6% and the median sales price was up by 12%. Pending Sales increased by 11%. New listings were up by 12% but like single-family the number of active listings decreased by 12%. The months of inventory declined from 2.7 months in November to 2.4 months in December.
Sales: 501
Average Sales Price: $231,690
Median Sales Price: $190,000
Pending Sales: 309
New Listings: 414
Active Listings: 1,197
Leases:
The number of leases in December was up by 1%. The average price increased by 4% and the median price by 8%. The number of pending leases remains very high with an increase of 171%. As with the last several months it looks like we are haveing a large number of leases roll over.
Leases: 2,227
Average Rent price: $1,501
Median Rent Price: $1,400
Pending Leases: 1,105
New Listings: 2,932
Active Listings: 4,252
Information provided by The Real Estate Center at Texas A&M.
No comments:
Post a Comment