Dallas Area Residential Sales Report for July

Home sales recovered  and were up 7% in July as compared to last July. Pending sales also climber 7% so august look positive. The average sales price eked out a 1% gain while the median sales price was up 3%. New listings came in with a 3% gain. Active listings are 6% higher than last year. The months of inventory is now at 3 months. We are only half way to a balanced market.

The hot spot in the market continues t be the range between $200000 and $399,999. This ranges contains 56% of all sales. Sales below $200,000 are down double digits due to the extreme shortage of homes for sale.   The number of homes on the market from $400,000 to $999,000 is declining. Sales above one million are flat on the year.

Sales: 11,198

Average Sales Price: $321,006

Median sales Price: $272,880

Pending Sales: 11,282

New Listings: 14,107

Active Listings: 26,990

Months of Inventory: 3

Information provided by The Real Estate Center

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