Richardson is the definition of a Seller’s Market

Single-Family:

Sales were off by 3% in March as compared to last year. Just a little blip. The average sales price increased by 2% as did the median sales price. Pending sales jumped 25% so we can look forward to good sales numbers in April. The number of new listings rose 3% while the active listings increased 18%. The months of inventory remains at 0.8 months. a balanced supply is considered to be 6 months so you can easily see how tilted the market is towards the Seller.

If you are a Buyer in the Richardson Market, you better have a good agent who can get you in a new listings the day it hits the market. Two or three days later isn’t good enough. The house, if it’s priced correctly, will be gone! If you decide to make an offer, make it your best offer!

Sales: 103

Average Sales Price: $246,027

Median Sales Price: $223,500

Pending Sales: 114

New Listings: 117

Active Listings: 79

Months of Inventory: 0.8