West University Market Area - Week of Oct 5th

September is always a tricky month with everyone going back to school. However, the West University Place real estate is healthy with homes selling faster than last month even though more homes were listed (38 vs 23). Inventory has slightly decreased from a little over 5 months to 4.6 months of inventory which is showing the market is holding strong.

The median sales price is a little higher than last month at $1,275,000.

Days on market is 51, longer than last year but slightly shorter than a month ago.

We are seeing an increase in contracts by 58% from last year.