Dallas Area Residential Sales Report for February – Condos and Townhouses
Short supply drives prices up.
Condo and townhouse sales were up by 7% but pending sales fell 1%. The average sales price increased by 12% while the median sales price jumped 21%. New listings declined 11%. Active Listings were 74% lower than list February. Months of inventory now stands at 0.6 months. 6 months is normally considered a balanced market.
Average Sales Price: $365,877
Median Sales Price: $365,000
New Listings: 594
Active Listings: 333
Months of Inventory: 0.6 months