Sales up. More supply.
Single-Family:
Sales were up 19% in February as compared to a year ago. There was a slight dip of 3% in the average sales price but the median sales price gained 8%. Pending sales rose a strong 30% so we can look forward to good sales numbers in March. New listings increased 7% and the active listings jumped 20%. Unfortunately, this increase in supply only raised the months of inventory to 1 month, Still way short of a 6 month balanced supply.
Sales: 215
Average Sales Price: $334,991
Median Sales Price: $290,000
Pending Sales: 272
New Listings: 270
Active Listings: 302
Months of Inventory: 1
Information provided by The Real Estate Center at Texas A&M.
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