Weekly Real Estate News
Closed sales across Texas during the second quarter totaled 95,364, a year-over-year uptick of 1.4%. According to data from Texas Realtors, closed sales were up in 16 of the state’s metro areas and down in 10.
Statewide, active listings increased 27.8% from the same quarter last year, with nearly every metro area recording increases with active listings – only Abilene experienced a shrinkage.
The state ended the second quarter with 5.7 months of inventory, down from 4.5 months one year earlier, while homes stayed on the market for an average of 61 days, which is six days longer than during the same quarter last year.
The statewide median price was $340,000, down 1.4% from the same quarter last year. Most markets had slight increases, with 17 metros enjoying price gains and nine in decline. The largest rise was 10.7% (Eagle Pass) and the largest decline was 2.1% (Austin).
“Our association advocated for recent legislative actions around common-sense regulations and zoning laws to increase inventory statewide,” said Christy Gessler, chairman of Texas Realtors. “We are still seeing hundreds of people per day coming to Texas and we are in serious need of expanded inventory at every price point. Texas Realtors will continue to work toward policies that make housing attainable and affordable.”
