Home sales continue to boom!

Dallas Area Residential Sales Report for August

Home Sale continue on a tear up 11% in August. Pending sales did even better rising 28%. Looks like September will be a positive month.The average sales price climbed 11% while the median sales price increased 9%. Now for the bad news if you are a buyer. The number of new listings declined by 5% and with all the sales and pending sales the number of active listings dropped by 45% taking the months of inventory down to 1.5 months. This extremely low supply will start to effect sales as buyers just will not be able to find that dream home.

In looking in to the price ranges we see that the range form $200,000 to $400,00 continues to be where the demand id and represents about 56% of all sales. Sales are increasing in the $400,00 range as buyers are having to move up in price to find a home. If you are looking in the million plus area you can still have a good choice of properties but if even area is tightening.

Sales : 12014

Average Sales Price: $352,652

Medina Sales Price: $292,000

Pending Sales: 13,162

New Listings: 12,220

Active Listings: 14,642

Months of Inventory: 1.5

Information provided by The Real Estate Center

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