Dallas Area Residential Sales Report for May – Richardson, TX

Prices up sharply!

Sales fell 21.2% but that didn’t slow down price increases. The median sales price rose 36.6% while the average sales price climbed 40.2% compared tp last May.  Buyers paid on average 107.8% above the original list price. Pending Sales increased 1%. New listings were flat and active listings declined 9.6%. The months of inventory now stands at 0.9 months. 6 months is considered a balanced market.

Sales: 93

Pending Sales: 98

Median Sales Price: $498,500

Average Sales Price: $537,895

Sales Price to Original List Price: 107.8%

New Listings:147

Active Listings: 94

Months of Inventory: 0.9 months

Information provided by The Real Estate Center