Sales Were Off But Pending Sales Were Up. It’s a Seller’s Market

Single-Family:

Sales fell by 20% in November as compared to a year ago but pending sales took a 22% jump up. We have see this same thing in other areas this month. Just some gyration in the market. The average sales price rose 10% while the median sales price climbed 12%, As in all of North Texas sales continue to be concentrated in the higher price ranges. New listings were up by 10% and this pulled the active listings up a healthy 22%. The months of inventory increased to 1.4 months. This is a long way from what is considered a balanced supply of 6 months.

Sales: 102

Average Sales Price: $261,385

Median Sales Price: $224,750

Pending Sales: 134

New Listings: 139

Active Listings: 176

Months of Inventory: 1.4