Dallas Area Residential Sales Report for May – Richardson TX

Well no slow down in Richardson in May. Sales were up 14%. The average sales price was 19% higher that last May and the median sales price 13%. Pending sales were also up a strong 10%. we did see some increase in inventories. New listings rose 12%. The active listings jumped 64%. While that sounds like a big increase, it;s a little deceiving because it really shows how low inventories were last May. The months of inventory did increase to 1.4 months but this is a long way from the 6 months considered a balanced market. It;s a sellers market in Richardson!

Sales: 124

Average Sales Price: $361,303

Median Sales Price: $325,000

Pending Sales: 127

New Listings: 151

Active Listings 139

Months of Inventory: 1.4

Information provided by The Real Estate Center

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