An update on the real estate market and showcasing a 94-acre property.
Today, I’ll update you on what's been going on in the market before highlighting a property we just listed with a 15-acre lake. We're located between Austin, Houston, and San Antonio. The communities that we service are Lagrange, Schulenberg, Flatonia, Howardsville, Columbus, Weimer, and Giddings. Here are some comparisons from one year ago to today:
1. Supply. Among all those communities, we had an average of 4.07 months of inventory a year ago. Today we have 2.18 months of supply.
2. Sales price. The average sales price for residential homes last year was $162,829. Today the average sales price is $200,815.