Dallas Area Residential Sales Report for February – Lake Highlands/NE Dallas

February was not a good month for sales. Down 25%. The average sales price declined 3% while the median sales price rose 3%. More troubling than those numbers is the pending sales. Down 35%. Looks like March will no be a good month in this area. Homes for sales also took a hit. New listings dropped 26% and the active listings fell 3%. The shortage of homes to buy is probably contributing to the sales numbers. The months of inventory  is very low at 1.7 months. ^ months is normally considered a balanced market.

Sales: 40

Average Sales Price: $393,113

Median Sales Price: $391,000

Pending Sales: 43

New Listings: 70

Active Listings: 111

Months of Inventory: 1.7

Information provided by The Real Estate Center

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