Single-Family:
Sales were up by 12% as compared to a year ago. The average sales price increased 11% while the median sales price rose 5%. Pending sales showed a good increase of 16%. New listings jumped 19% and active listings rose by 15%. While it's good to see more inventory coming on the market, the months of inventory only climber to 1.8 months. Still very short supply.
About 30% of the listings in MLS are builders new homes. The average list price of the new homes is $560,849 and the average sales price in September was $496,407.
Sales: 360
Average Sales Price: $388,233
Median Sales Price: $325,000
Pending Sales: 303
New Listings: 337
Active Listings: 589
Months of Inventory: 1.8
Leases:
Leasing activity increased by 17%. The average rent rose 5% and the median rent by 3%. Nothing out of the ordinary. Pending leases jumped 33%. New Listings declined by 2% but the active listings jumped 32%. Months of inventory climbed 10 1.8 months.
Leases: 164
Average Rent: $2,025
Median Rent: $1,860
Pending Leases: 97
New Listings: 188
Active Listings: 270
Months of Inventory: 1.8
Information provided by the Real Estate Center at Texas A&M
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