Sales were off but not demand
Single-Family:
Sales were down 16% in February but not because of a drop off in demand. There is just a serious shortage of good properties and buyers can not find anything to buy. The average sales price rose 1% while the median sales price climbed by 6%. Pending sales fell 9% for the same reason that sales were down. The number of new listings declined 8% but the active listings rose 19%. The months of inventory remained extremely low at 0.8 months.
Sales: 54
Average Sales Price: $231,962
Median Sales Price: $210,000
Pending Sales: 82
New Listings: 79
Active Listings: 81
Months of Inventory: 0.8
Check out the video of my 2 new listings in Richardson. They will be on the market Friday.
Information provided by The Real Estate Center at Texas A&M.
Marie Sells Dallas 