Let's take a look at the Bryan College Station real estate market. Currently there are 188 sales pending in the market overall, leaving 651 listings still for sale. The resulting pending ratio is 22.4% (188 divided by 839). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!

The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply. 

Taking a closer look, we notice that the $200K - $300K price range has a relatively large number of contracts pending sale.  We also notice that the $300K - $400K price range has a relatively large inventory of properties for sale at 195 listings. The median list price (or asking price) for all properties in this market is $379,000. A total of 960 contracts have closed in the last 6 months with a median sold price of $315,575.

Breaking it down, we notice that the $200K - $300K price range contains the highest number of sold listings.  Alternatively, a total of 30 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $300K - $400K price range has the highest number of off-market listings at 9 properties. 

Active listings (properties for sale) have been on the market for a median time of 77 days.  Analysis of sold properties for the last six months reveals a median sold price of $315,575 and 67 days on market. The sales can be seen in the two charts below. The median sold price for the last 30 days was $314,200 with a DOM of 73 days.