Richardson TX Residential Sales Report for January

Cottonwood Park

Sales rose 4% in January. The average sales price climbed 28% while the median sales price jumped 30%. Pending sales fell 16%. The decline in pending sales is strictly due to the extremely low inventory. Buyers just can not find a home to purchase. The number of new listings did increase by 9% but the active inventory fell by 25%. The months of inventory now stands at 0.6 months. with 6 months normally considered a balanced market, it is easy to see how much this market is tilted to the Seller side.

Sales: 54

Average Sales Price: $290,665

Median Sales Price: $256,000

Pending Sales: 69

New Listings: 86

Active Listings: 61

Months of Inventory: 0.6

Information provided by The Real Estate Center