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.
Pending Sales: 98
Median Sales Price: $498,500
Average Sales Price: $537,895
Sales Price to Original List Price: 107.8%
Active Listings: 94
Months of Inventory: 0.9 months
Information provided by The Real Estate Center