Dallas Area Residential Sales Report for October
Sales fell for the third straight month in October. Down by 4% with the northern suburbs taking large downturns. Pending sales came in down 9%. The average sales price increased 5% while the median sales price came in up 4%. New listings rose 2%. The active listings rose 18%. Months of inventory now stands at 2.8 months. Technically we are still in a sellers market but buyers have become very picky and pricing is critical.
Sales in the $100,000 to $199,999 range are down by double digits due to the shortage of properties in this price point. Sales remain positive in the most desired range of $200,000 to $399,999. This range represents 53% of all sales. Million plus homes are up 10% for the year.
Average Sales Price: $300,539
Median sales Price: $250,000
Pending Sales: 8,275
New Listings: 10,676
Active Listings: 25,191
Months of Inventory: 2.8
Information provided by The Real Estate Center
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