Dallas Area Residential Sales Report For November – Plano. TX

Very low inventory continue to drive prices up.

Sales of single family homes  increased 11% in November over last November, however pending sale were down 12%. That’s not a good sign for December sales. Demand coupled with a very low supply continues to drive prices higher. The average sales price rose 14% and the median sales price jumped  25% as buyers were forced into higher price range properties due to supply constraints. New listings were no help down 11%. active listings came in 48% lower than last year. The months of Inventory now stands at 0.4 months. 6 months is considered a balanced market.

Sales: 287

Average Sales Price: $523,605

Median Sales Price: $475,000

Pending Sales: 242

New Listings: 194

Active Listings: 118

Months of Inventory: 0.4 Months

Information furbished by The Texas Real Estate Center

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