Dallas Area Residential Sales Report for November
Sales continued their downtrend in November down 8% as compared to last November. Pending sales were a little better only of 5%. The average sales price rose 4% while the median sales price was up 3%. We saw 8% more new listings and the active listings climbed 23%. The months of inventory now stands at 2.7 months. We are still way short of the 6 months considered a balanced market.
Sales under $200,000 remain down double digits due to the extreme shortage of supply. Homes priced between $200,000 and $399,999 remain the most in demand and represent 53% of all sales. in the upper price ranges from The supply in this range is about 2.5 months so buyers are still having a hard time finding a home that fits their lifestyle. Homes in the upper ranges from $600,000 to $999,999 are much closer to a balanced market and buyers have inventory to choose from. Over $1,000,000 finds a 8.9 month supply and this market is tilted to the buyer side.
Average Sales Price: $307,038
Median Sales Price: $250,000
Pending Sales: 7,579
New Listings: 9,222
Active Listings: 23,867
Months of Inventory: 2.
Information provided by The Real Estate Center
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