Dallas Area Residential Sales Report for December
Sales were great in December!
The Dallas area saw a 12% increase in single Family sales in December as compared to last December.
The average sales price rose 8% as did the median sales price. Pending sales climbed 13% so January looks good. The number of new listings increased 6% and the active listings were up by the same number. With the increase in sales and pending sales, the increases inventory did not help the months of inventory which dropped to 2 months. 6 months is considered a balanced market. We are very tilted to the sellers side.
As it has been for a long time now the price range between $200,000 and $399,999 continues to be the hot spot in the market making up 51% of the total sales. Sales from $400,000 over $1,000,000 remain strong with double digit sales gains. Sales below %180,000 remain in the negative column due to the shortage of inventory.
Average Sales Price: $304,678
Median Sales Price: $250,00
Pending Sales: 6,840
New Listings: 6,554
Active Listings: 17,440
Months of Inventory: 2
Information provided by The Real Estate Center