Dallas Area Residential Sales Report for September
Home sales in September were up 9% as compared to this time last year. Pending sales rose 12% so we can anticipate that October will be a positive month. The average sales price climbed 4% while the median sales price increased 6%. we had a rise of 8% in the number of new listings. Active listings increases only 1%. The months of inventory now stands at 2.8 months. this is still a long way from the 6 months considered a balanced market.
As they have been for a long time sales continue to be concentrated in the $200,000 to $399,999 price range and represent about 55% of all sales. Sales below $199,999 remain in negative territory due to the shortage of decent properties in this range. Properties from $400,000 to $999,999 are moving fairly well with sales up around 4% for the year. The market above $1,000,000 is flat and has a 9.9 months supply.
Average Sales Price: $315,807
Median Sales Price: $2665,000
Pending Sales: 9,335
New Listings: 11,337
Active Listings: 26,131
Information provided by the Real Estate Center