Dallas Area Residential Sales Report for July
No shortage of buyers in July! Existing homes sold at a rate 25% higher than last July. Pending sales rose 20% so we can anticipate solid sales numbers in August. The average sales price climber 11% while the median sales price increased by 9%. Now for the bad news if you are a buyer. New listings fell 4% and combined with all the sales the number of active listings dropped 40% taking the months of inventory d own to 1.7 months. If you are a buyer your are going to have a had time finding that dream home and when you do expect to be facing multiple offers on it.
Sales: 13,832
Average Sales Price: $355,869
Median Sales Price: $294,200
Pending Sales: 13,501
New Listings: 13,503
Active Listings: 16,177
Months of Inventory: 1.7
Information provided by The Real Estate Center
