Dallas Area Residential Sales Report for May
May was a pretty good month for home sales in the Dallas area. Sales were up 6%. The average sales price and the median sales price were both up 3%. New listings came in up 4%. The number of active listings were 17% higher that last May. Months of inventory now stands at 3.1 months. With 6 months being considered as a balanced market we are only half way there.
The strong spot in the market continues to be the range between $200,000 to $399,999. This area of the market represents 54.4 percent of all sales. The range between $100,000 to $199,999 remains very tight with about a 1.5 month supply. Million plus properties are in a buyers market with a 12.2 months supply.
Average Sales Price: $332,236
Median Sales Price: $275,000
Pending Sales: 11,569
New Listings: 15,306
Active Listings: 26,230
Months of Inventory: 3.1
Information provided by The Real Estate Center
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