Dallas Area Single-Family Sales Report for April

It’s still a “sellers market”.

Sales in April were up 5% as compared to last April. The average sales price climbed 8% while the median sales price rose 12%. Pending Sales increased 3%. The number of new listings were up 2% and the active listings by 5%. The months of inventory now stands at 2.5 months. With 6 months being a balanced market, you can readily see how far we are tilted to the sellers side.

In looking at the distribution of sales we find that homes priced under $199,999  actually are in negative territory and by double digits. Buyers just can not find homes to by. The sweet spot in the market continues to be in the $200,000 to $399,000 range. This range represents 48% of all sales while having 38% of all the listings. Sales above $400,000 are also strong and were up by double digits. There is a much more balanced supply in these upper ranges (above 6 months) so buyers have a greater choice and more room to negotiate.

Sales: 9,180

Average Sales Price: $295,335

Median Sales Price: $246,100

Pending Sales: 10,551

New Listings: 12,239

Active Listings: 18,652

Months of Inventory: 2.5