Richardson TX Residential Sales Report for May

Looking for a home in Richardson. It’s really hard. No inventory!

Sales were up by 3% in May as compared to the same time last year. The average sales price increases 6% and the median sales price rose 4%. Pending sales took a 14% decline as the inventory of available homes for sale fell to 0.9 months.  For a very long time now, Richardson has had the lowest number of homes for sale of any other area in the Metroplex and it doesn’t look like this situation is going to change anytime soon. The number of new listings declined 1% and the active listings dropped 6%. Richardson is very much a sellers market.

Sales: 110

Average Sales Price: $326,304

Median Sales Price: $290,000

Pending Sales: 115

New Listings: 135

Active Listings: 85

Months of Inventory: 0.9

Information provided by The Real Estate Center