Dallas Area Residential Sales Report for May – Far North Dallas

Dallas Area Residential Sales Report for May – Far North Dallas

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The expected decline in homes sales due the the virus certainly came through in Far North Dallas in May with sales falling 43%. However, buyers were out making purchases and pending sales rose 12% so it’s looking like a positive June. The average sales price fell 14% but that was caused by decreasing sales in the upper price ranges. Pending sales dropped 5%. The real problem going forward is the 12% drop off in new listings and the 45%  decline in active listings. This is going to make it very hard on buyers! The months of inventory is now at 2.5 months.

Sales: 68

Average Sales Price: $476,569

Median Sales Price: $427,500

Pending Sales: 124

New Listings: 160

Active Listings: 203

Months of Inventory: 2.5

Information provided by he Real Estate Center

#RealEstateDallas #HomesForSaleDallas

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