Dallas Area Residential Sales Report for January
The Dallas area just keeps on keeping on with home sales!
Sales in January were 12% higher than last January. The average sales price rose 3% and the median sales price climbed 5%.Pending sales increased 4%. The number of new listings were up 3%. The active listings came in with a 6% increase. Months of inventory now stands at 2.7 months. Not great news if you are a buyer but fantastic if you are a seller.
In looking at the sales distribution, not much has changed. The price range of $200,000 to $399,999 is where we find about half of all sales. In the price ranges from $100,000 to $199,999 demand is extremely high but inventories are extremely low. Inventory levels in this range are about 1.5 months.
Sales above $1,000,000 had been hot but now have slowed down. There is a 17.5 months supply of these homes. So if you are in the market for a million plus home, now is a good time to buy!
Average Sales Price: $279,023
Median Sales Price: $235,500
Pending Sales: 8,376
New Listings: 9,684
Active Listings: 17,072
Months of Inventory: 2.7
Information provided by The Real Estate Center
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