Dallas Area Residential Sales Report for January

Well buyers were jumping all over proprieties in January. Home sales climbed 21% and pending sales shot up 14%. The average sales price increased 9% compared to last January. The median sales price showed a nice 8% gain. New listings were 4% higher but with all the sales and pending sales active listings declined 6% taking the months of inventory down to 2.3 months. This is getting very low and will make it harder for buyers to find that dream home.

As has been the case for many months, the homes between $200,000 and $400,000 represent 55% of the market and the supply remains tight. Sales below $200,000 are in negative territory due to the shortage of supply. Properties above %500,000 are moving but at a slower pace. If you are looking for any bargain it’s above $1,000,000 where we find inventories at twice a balanced market of 6 months.

Sales: 6,390

Average Sales Price: $309,819

Median Sales Price: 259,990

New Listings: 11,038

Active Listings: 20,631

Months of Inventory: 2.3

Information provided by the real estate center

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