Dallas Area Residential Sales Report for February

Home prices continue to rise!

Sales were up 5% as compared to last February. The average sales price increased 13% while the median sales price rose the same amount. As long as we have over 100,000 people moving into the area you can expect home prices to remain in an upward trend. there is just not enough homes coming on the market plus builders new homes to meet the demand. Pending sales were flat. The number of new listings fell 1% while the active listings also declined by 1%.  The months of inventory now stands at 2.7 months.
Sales: 6,909
Average Sales Price: $285, 940
Median Sales Price: $235,000
Pending Sales: 8,781
New Listings: 9,955
Active Listings: 16,609
Months of Inventory: 2.7
Information provided by The Real Estate Center

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