Dallas Area Residential Sales Report For March

Sales of singale family homes were up by 2% compared to last March. However, pending sales fell 10%. The average sales price rose 17% and the median sales price jumped 22% as buyers bid up the price due to the continued extreme shortage of supply. new listing did rise 6% and active listings were up 16% but that was not enough to over come the shortage. Te months of inventory now stands at 0.9 months. 6 months is considered a balanced market and were are a long way from that.

Sales: 9,703

Average Sales Price: $457,778

Median Sales Price: $380,000

Pending Sales: 10,327

New Listings: 11,683

Active Listings: 7,084

Months of Inventory: 0.9 months