Dallas Area Residential Sales Report for October
Sales of single-family homes were up 11% compared to last October. The average sales price rose 5% and the median sales price increased 6%. Pending sales showed a healthy 12% increase so we can anticipate a positive number in November. The number of new listings climbed 7%. The active listings came in up 1%. The months of inventory remains low at 2.8 months.
The hot spot remains the range between $200,000 and $399,999 with about 56% of all sales. Price ranges below $200,000 continue to show negative sales numbers due to the extremely small inventory available. Sales from $400,000 to $699,000 increased around 5% and those a million and above rose 2%.
Average Sales Price: $315,481
Median Sales Price: $264,000
Pending Sales: 9,241
New Listings: 11,415
Active Listings: 25,438
Months of Inventory: 2.8
Information provided by The Real Estate Center