Single-Family:
Sales fell 17% in April. as we have seen in other areas a lot of the reason sales were down is simply with the extreme shortage of home on the market buyers just can not find a home to buy.
The average sale price climber by 8% while the median sales price rose 4%. Pending sales were also down but only by 1%. The number of new listings dropped 4% and the active listings crashed by 24%. The months of inventory declined to 1.1 months.
Sales: 65
Average Sales Price: $ 343,785
Median Sales Price: $332,500
Pending Sales: 74
New Listings: 97
Active listings: 84
Months of Inventory: 1.1
Condos and Townhouses:
Condo and townhouse sales were up by 8% compared to a year age. The average sales price declined by 5% and the median sales price fell by 14%. this just looks like there were a number of sales in the lower price ranges that pulled the averages down. Pending sales were up by 13% so next month's sales should be up. The new listings dropped by 5% and the active listings by a whopping 24%. the months of inventory fell to 2.1 months.
Sales: 28
Average Sales Price: $83,418
Median Sales Price: $63,300
Pending Sales: 26
New Listings: 36
Active Listings: 51
Months of Inventory: 2.1
Leases:
Leases fell by 24%. As in single-family the decline is due to the fact that there are very few properties for lease making it difficult to find a suitable property. The average rent increased by 7% while the median rent fell by 16%. It looks like there were several properties that leased in the upper price ranges but the majority were in the lower price ranges. The pending leases were up by 100%. Last April was a very low month for leases. The new listings fell by 24% and the active listings declined by 40%. The months of inventory dropped to 1 month.
Leases: 22
Average Rent: $1,278
Median Rent: $880
Pending Leases: 12
New Listings: 22
Active listings: 30
Months of Inventory: 1
Information provided by The Real Estate Center at Texas A&M.
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