Dallas Area Residential Sales Report for December

Supply/ Demand way out of whack

Sales continue to decline as sale prices rise due to extremely low inventory. Sales were off by 3% in December compared to last year. Pending sales did manage to eke out a 1% increase. The average sales price rose 25% while the median sales price increased 20%. The number of new listings fell 3%. Active listings came in with a decline of 20%. The months of inventory is at the lowest level I have ever seen at 0.7 months.

Sales: 10,342

Average Sale Price: $424,936

Median Sales Price: $353,000

New Listings: 6,999

Active Listings: 7,250

Months of Inventory: 0.7 months

Information provided by The Texas Real Estate Center

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