Dallas Area Residential Sales Report for February
Lot’s of buyers. no inventory to buy!
Single Family home sales fell 8% in February as buyers just could not find homes to purchase due to the extremely low supply. Pending sales were worse down 19%. Not setting up for March to be a positive month. The average sales price rose 20% compared to last February. The median sales price came in with a 14% increase. Now the problem. New listings declined 37% and active listings fell 68% taking the months of inventory down to 1 month. 6 months is considered a balance market.
Looking at supply in the most popular price range ($200,000 to $400,00) we find about a 0.6 month supply.
Average Sales Price: $381,532
Medina Sales Price: $302,920
Pending Sales: 8,252
New Listings: 7,180
Active Listings: 6,687
Months of Inventory: 1 month
Information provided by The Real Estate Center
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