Huge Jump in Sales
Single-Family:
August saw sales jump up 28%. The average sales price increased 5% and the median sales price climbed 7%. Pending sales were a problem down 9%. Looks like September sales will probably be down. New listings fell 15% and the active listings were off by 24%. This caused the months of inventory to fall to 1 month.
With inventory levels this low, buyers are having a very hard time finding a home to purchase. It's very much a Seller's Market!
Sales: 151
Average Sales Price: $262,148
Median Sales Price: $246,300
Pending Sales: 127
New Listings: 111
Active Listings: 104
Months of Inventory: 1
Information provided by the real estate center at Texas A&M
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