Dallas Area Residential Sales Report for April
After being down for the past several months home sales rebounded and finished up 5% in April as compared to last April. Pending sales rose 4%. The average sales price was 6% higher while the median sales price increased 4%. The number of new listings climbed 3%. Active listings showed a 19% gain. The months of inventory has risen to 3.1 months. We are well short of the 6 months considered a balanced market.
Sales below $200,000 remain in negative territory as buyers just can’t find anything to purchase. The sweet spot in the market continues to be the range between $200,000 and $399,999. This range represents 54.8% of all sales. Above $600,000 the market has shifted to the buyer side as inventories build. In the over one million category there is a 13.3 months supply.
Average Sales Price: $323,355
Median Sales Price: $265,000
Pending Sales: 11,523
New Listings: 14,269
Active Listings: 24,005
Months of Inventory: 3.1
Information provided by The Real Estate Center
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