Single-Family:
Sales were up a strong 20% in September as compared to a year ago. The average sales price rose 4% and the median price was up by 2%. Pending sales jumped 31%. We did see inventory coming on the market. New listings increased by 25% while the active listings rose 46%. Unfortunately for buyers this increase in inventory only brought the months of inventory to 1.9 months. That's a long way from the 6 months that is considered a balanced supply/demand.
A large amount, about 40%, of the inventory is builder's new homes. These homes range in list price from $244,946 to $675,000 with the average price of $407,863.
Sales: 133
Average Sales Price: $243,495
Median Sales Price: $214,000
Pending Sales: 131
New Listings: 138
Active Listings: 184
Months of Inventory: 1.9
Leasing:
Leasing activity in Wylie was off by 9% The average rent increased by 17% and the median rent was up by 12%. Pending leases fell 8%. New listings showed a small increase of 5% but the active listings fell by 10%. The months of inventory is now at 1 month. It's very hard to find a property to lease in the area and this is the reason for the decline in leases and pending leases.
Leases: 30
Average Rent: $1,661
Median Rent: $1,620
Pending Leases: 12
New Listings: 41
Active listings: 28
Months of Inventory: 1
Information provided by The Real Estate Center at Texas A&M
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