Dallas Area Residential Sales Report for May – Richardson, TX

The CORVID-19 virus hit home sales in Richardson hard with sales down 24%. However we must remember that these sales were contracted in March and April. Buyers returned to the market and pending sales were up 7%. The average sales price fell 3% while the median sales price declined 5%. Don’t expect declining sales prices to continue. Why? Because new listings dropped 18% and active listings fell 39% taking the months of inventory down to 1.5 months. With this real shortage of supply, buyers are doing to have a difficult time finding that dream home and the best homes will be in high demand.

Sales: 94

Average Sales Price: $317,228

Median Sales Price: $300,000

Pending Sales: 125

New Listings: 140

Active Listings: 195

Months of Inventory: 1.5

Information provided by The Real Estate Center

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