Dallas Area Sales Report for November
Buyers just keep on buying!
November sales in the Dallas area were up 14% as compared to last November. The average sales price rose 4% while the median sales price increases 5%. The rate of increase in the sales price is moderating. Pending sales climber 6%. There was an increase of 4% in the number of new listings and an 8% rise in the active listings. The months of inventory now stands at a whopping 2.2 months. With 6 months considered a balanced market we are heavily tilted to the Seller’s side of the equation.
Sales continue to be concentrated in the 200,000 to 399,999 range with 49.9% of all sales. This range plus all the ranges above it have double digit sales. The price ranges under 200,000 all have negative sales numbers. It’s not because there is less demands for these lower ranges but because there is just no inventory for buyers to chose from.
Average Sales Price: $295,869
Median Sales Price: $242,100
Pending Sales: 7,067
New Listings: 8,511
Active Listings: 19,476
Months of Inventory: 2.2
Information provided by The Real Estate Center