Richardson TX Residential Sales Report for August

Sales were down by 4% in Richardson for the month of August as compared to last August. We have seen small drops like this in months before but pending sales were also down and by 15%. It looks like there is a good possibility that Septembers sales will be down. We have not seen a 2 month decline in sales in Richardson in a very long time.  The average sales price increased 18% while the median sales price rose 15%. The number of new listings had a sharp increase of 43% and the active listings jumped up 56%. While the increase in listings sounds like a lot, it only increased the months of inventory to 1.7 months. With 6 months considered a balanced market, we are still very tilted to the sellers side.

Sales: 134

Average Sales Price: $3110,492

Median Sales Price: $285,000

Pending Sales: 108

New Listings: 159

Active Listings: 162

Months of Inventory: 1.7

Information provided by The Real Estate Center