Single-Family:
Sales jumped 29% in October as compared to a year ago. The average sales price increased by 24% and the median sales price by 26%. These large increases are caused by yes a shortage of properties on the market pulling prices up but in addition, a shortage of sales in the lower price ranges.
Pending sales increased by 5%. The number of new listings rose by 14% and the active listings climbed by 12%. While it's good to see more supply coming on the market, the months of inventory only increased to 1.2 months. Still a very short supply.
Sales: 157
Average Sales Price: $258,027
Median Sales Price: $233,000
Pending Sales: 116
New Listings: 121
Active listings: 121
Months of Inventory: 1.2
Information provided by The Real Estate Center at Texas A&M
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