Buyers just keep on buying!
Dallas Area Residential Sales Report for September
Homes sales were 27% higher than last September. Pending sales climbed 23% so we can anticipate October will be a good month.
The average sales price jumped 13% while the median sales price was up 10%. Now the bad news if you are a buyer.
The number of new listings fell 3% but with all the sales and pending sales the number of active listings came in 49% lower and the months of inventory declined to 1.4 months. Good news for sellers who are getting multiple offers for their properties, but it sure makes it harder on buyers.
It is very difficult to find a property under $200,000. The hot spot continued to be the $200,000 to $400,000 range which represents about 51% of the total market. There is less that a 1.3 month supply and buyers have been having to move up in price to find a home. Homes from $500,000 to $999,999 experienced over a 20% increase in sales and are also in short supply.
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