Dallas Area Residential Sales Report for December
Well there is no way to sugar coat it. Sales were just down 9% and pending sales fell 11% in December as compared to last December. Not shaping up for a good start for 2019. The average sales price rose 2%. The median sales price increased 4%. There was a 2% rise in the number of new listings. Active listings came in 22% higher. The months of inventory is at 2.4 months. this is a low number and buyers are having a hard time finding a home that fits their lifestyle.
Sales in a number of the Northers Suburbs were not good. I will be reporting on them as the month goes by so check back and see how your city is fairing.
The major share of the market continues to be in the $200,000 to $399,999 range with 54% of the total sales. There is about a 2.3 months supply in this range. Sales in the $100,000 to $199,999 range experienced negative sales numbers primarily due to the shortage of supply with only around a 1.5 months of inventory. Sales in the upper price ranges remain positive with a 4.5 month supply. the million plus area say a 6% increase in sales and a 7.6 month inventory.
Average Sales Price: $311,839
Median Sales Price: $259,000
Pending Sales: 6,117
New Listings: 6,654
Active Listings: 21,309
Months of Inventory: 2.4
Information provided by the Real Estate Center
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