Dallas Area Residential Sales Report for February
Sales remained strong in January up 10%. The average sales price rose 4% while the median sales price climbed 6%. Pending sales are a little troubling being down 4%. The number of new listings declined 1% but the active listings rose 6%. The months of Inventory came in at 2.7 months. With 6 months considered a balanced market, we are tilted heavily to the sellers side.
The sweet spot in the market continues to be the price range between $200,000 and $399,999. This range represents 51% of the total sales. The Months of Inventory from $100,000 to $249,999 is less than 2 months. Above $500,000, the market is tilted to the buyers side with the Months of Inventory above 6 months. If you are looking above one million, the market favors you with a 15.9 months supply.
Average Sales Price: $298,501
Median Sales Price: 248,000
Pending Sales: 8,467
New Listings: 9,888
Active Listings: 17,529
Information provided by The Real Estate Center
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