The momentum created by a record-breaking 2015 pushed sales figures up in 2016 resulting in nearly 30,000 homes sold during the twelve month period. 

The average sales price of a home in the area was $239,657 and the median sales price was $204,300, a three and six percent increase respectively.

Sales figures each month except one this year have surpassed 2015’s figures, with the biggest year-over-year increase occurring in November with a 23 percent spike. Meanwhile, demand remained strong. The year began with 3.5 months of inventory and this number increased to 3.9 months in June before falling to the year’s low in December at 3.1 months. The number of days on market also saw some fluctuation in 2016, beginning the year at 63 days and straying over 70 in February before falling to a low of 53 in August and jumping to 61 in December, still five fewer days than the previous December.

Homes priced over $500,000 increased 0.5 percent year-over-year to make up 4.9 percent of the year’s sales while homes priced between $200,000 and $500,000 accounted for 46.5 percent of the homes sold in 2016. However, the majority of homes sold in the area remained under $200,000 with those sales making up 48.6 percent of the market.

Sales across Texas also reported modest growth in 2016. Sales increased 4.7 percent year-over-year for a total of 302,061 homes sold in the state while the median price of a home sold rose to $212,000, a 7.1 percent increase.