Dallas Area Residential Sales Report for April
Buyers just keep on Buying!
Sales in April were up 11% as compared to last April. The average sales price rose 4% and the median sales price was up the same 4%. Price increases have been moderating over the past several months. Pending sales climbed 7% so May is looking pretty good. The number of new listings increased 14%. The active listings came in with an 8% increase. While this additional inventory is helpful, The months of inventory remained flat at 2.6 months. The Dallas area remains a sellers market!
The hot price range remains from $200,000 to $399,999. This range represents 51.4% of all sales and has about a 2 month supply of homes for sale. Anything from a $100,000 to $199,999 goes under contract almost immediately due to the extremely short supply. Current inventory is about 1 month.
After you reach the $500,000 and up area the market changes and shifts to the buyer side with supply exceeding the 6 months considered a balanced market. In the over one million area the supply is 12.8 months.
Average Sales Price: $307,345
Median Sales Price: $255,000
Pending Sales: 11,265
New Listings: 13,095
Active Listings: 20,161
Information provided by The Real Estate Center
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