WOW! What a Month!!
Sales jumped 22% in February. The average sales price rose 3% while the median sales price increased 9%. About 40% of the sales are concentrated in the price range between $200,000 and $399,999. The median sale price was up an astounding 41%. What caused these large increased is sales and pending sales? Well, it’s more inventory. Buyers were able to find a house to buy. New listings came in up 20%! The number of active listings only increased by 4% as most of the new listings were gobbled up. The months of inventory now stands at 2.8 months. 6 months is typically considered to be a balanced supply/demand so you can see that we have a long way to go Before the Seller’s Market changes.
Average Sales Price: $254,037
Median Sales Price: $208,000
Pending Sales: 8,600
New Listings: 10,058
Months of Inventory: 2.8
If you live in the Dallas area and would like a personalized Comparative Market Analysis (CMA) on your home delivered to your email in just a few minutes, then click the link below to take advantage of this offer.
Information provided by The Real Estate Center at Texas A;M.