Sales and Pending Sales were down

Single-Family:

Sales were off by 12% in October as compared to a year ago. Pending sales were also down by 11%. I would not read anything into these one month numbers. It appears to be an anomaly and my be related to the extreme shortage of properties available to buyers. The average sales price rose 6% and the median sales price increased by 10%. We continue to see the sales skewed to the higher end of the market.

We did get a nice increase of 8% in the number of new listings and this helped the active listings to climb by 4%. The months of inventory now stands at 1.2 months which is very low. Carrollton/Farmers Branch is tied with Richardson for the lowest months of inventory in the area.

Sales: 157

Average Sales Price: $264, 535

Median Sales Price: $230,000

Pending Sales: 142

New Listings: 168

Active Listings: 197

Months of Inventory: 1.2

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