Single-Family:
Sales were up by 19% in April. The average sale price declined by 2% while the median sale price was up by 2%. Nothing really going on with those numbers. Pending sales climbed by 18% so we can anticipate a strong May sales number. The number of new listings fell by 9% and the active listings dropped by 15%. Bad news for buyers. Months of inventory declined to 1.5 months.
Sales: 115
Average Sales Price: $409,845
Median Sales Price: $356,230
Pending Sales: 109
New Listings: 157
Active Listings: 157 I know that looks strange but that is what the report says.
Months of Inventory: 1.5
Condos and Townhouses:
Condo and townhouses sales fell by 9% but that did not stop the average sales price from jumping 20% and the median sales price by 16%. Looks like some sales on the upper price ranges pulling these numbers up. Pending sales were up a modest 2%. The number of new listings declined by10% and the active listings by43%. there is now only a 1 months supply on the market.
Sales: 40
Average Sales Price: $157,302
Median Sales Price: $115,950
Pending Sales: 44
New Listings: 53
Active listings: 45
Months of inventory: 1
Leases:
Leases jumped by 27%. The average rent increased a slight 1% and the median rent fell by 14%. Looks like we had some properties lease in the lower price ranges. Pending leases climber by 86%. As in other areas last April was a slow months for leases. New listings dropped by 27% and active listings by 24%. There is now a 1.3 month supply.
Leases: 52
Average Rent: $1,670
Median Rent: $1,550
Pending Leases: 26
New Listings: 43
Active Listings: 58
Months of Inventory: 1.3
Information provided by the Real Estate Center at Texas A&M.
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