Inventory down. Prices up!

Dallas Area Residential Sales Report for January – Richardson, TX

Home sales fell 3% from last January’s level. However, pending sales were up 3%. The average sales Price increased 1% while the median sales price rose 7% as buyers had to go to the higher priced propertied to find that dream home. New listings continual to decline down 33%. Active listings were off 52% and the months of inventory dropped to 0.7 months.

Competition for homes is making it very difficult for buyers and their Realtors.

#information provided by The Real Estate Center

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