Sales were up slightly
Single-Family:
Sales were up 4% in august as compared to the same tile last year. The average sales price jumped 12% while the median sales price increased 7%. Sales continue to be concentrated in the upper price ranges primarily due to the extreme shortage of properties under $200,000. Pending sales were flat. The number of new listings fell 6% but the active listings jumped 24%. The increase in active listings is helpful to the over all market but it only caused the months of inventory to increase to 2.2 months. Still very short of the 6 months that is considered a balanced supply/demand.
Sales: 454
Average Sales Price: $ 319,479
Median Sales Price: $279,950
Pending Sales: 261
New Listings: 295
Active Listings: 505
Months of Inventory: 2.2
Information provided by The Real Estate Center at Texas A&M
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