Dallas Area Residential Sales Report for May

Dallas Area Residential Sales Report for May

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We all knew that sales were going to be down in May due to the Covid-19 virus and it was. Sales fell 25% from last May. However, there was good news. Pending sales rose 15%! Looks like June will be a positive month! The average sales price declined 3% while the median sales price dropped only 1%. The number of new listings was off by 12% and the active listings took a 26% fall. The months of inventory is now at 2.5 months.

Sales continue to be concentrated in the $200,000 to $400,000 price range. This group makes up 57% of the total sales. We did see a drop in sales in the $200,000 to $300,000 range due to the extremely tight inventory. The $300,000 to $400,00 range was up 2% in sales as there is a little more inventory available.

Sales: 8,418

Average Sales Price: $320,733

Median Sales Price: $272,000

Pending Sales: 13,342

New Listings: 13,485

Active Listings 19,398

Months of Inventory: 2.5

Information provided by The Real Estate Center

#RealEstateDallas #HomesForSaleDallas

 

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