Dallas Area Residential Sales Report for August – Richardson, TX

Sales up. prices up

Single family sales rose a slight 2% in August compared to last year. Pending sales fell 7%. The average sales price increased 18% while the median sales price jumped 23% as buyers went after higher price properties.  New listings did increase by 6% but the active listings still fell by 9% The months of inventory (a measure of supply/demand) came in at 1.1 months. 6 months is considered a balanced market.

Sales: 123

Average Sales Price: $409,734

Median Sales Price: $392,000

Pending Sales: 129

New Listings: 140

Active Listings: 114

Months of Inventory: 1.1 months

Information provided by The Real Estate Center

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