Sales Remain Strong!
Single-Family:
April was another good months for sales. As compared to a year ago sales sales were up by 15%.
The average sales price rose 4% while the median sales price increased by 9%. We continue to see sales concentrated in the upper price ranges. The $200,000 to $399,999 price range remains the strongest part of the market. There was a pick up in sales in the price ranges between $150,000 to $199,999 as some new supply came on the market in these ranges. Also saw an increase in sales in the $400,000 to $699,999 range.
Pending sales came in at up 17% so it looks like May will also be a good months. Unfortunately there was a drop of 2% in the number of new listings but the active listings rose 2% leaving us at a 2.4 months supply. Very short of the 6 months normally considered a balanced suppl;y/demand number.
Sales: 9,178
Average Sales Price: $274,368
Median Sales Price: $220,000
Pending Sales: 10,210
New Listings: 11,958
Active Listings: 17,819
Months of Inventory: 2.4
Information provided by The Real Estate Center at Texas A&M.
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