Sales bounced back!

Single-Family:

Sales were up 8% in the Far North Dallas Area August. The average sales price declined 7% while the median sales price was flat. Pending Sales fell 13% indicating that the positive reversal in sales for August may not carry through to September sales. New listings fell 7% while the number of active listings climbed 14%. The months of Inventory now stands at 2.7 months.

Sales have slowed in the price ranges above $500,000 and above $600,00 the inventory levels have built to the point that these ranges have moved to favor the buyer. There is good demand for home in the $200,000 to $399,999 range and anything below $200,000  is flying off the shelf.

Sales: 109

Average Sales Price: $470,634

Median Sales Price: $375,000

Pending Sales: 87

New Listings: 118

Active Listings: 244

Months of Inventory: 2.7

Information provided by The Real Estate Center at Texas A&M