Dallas Area Residential Sales Report for November

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.

Sales: 7,502

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

#mariesellsdallas #Dallasrealestate #Dallashomes #DallasRealEstateAgent

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