Dallas Area Residential Sales Report for August – Allen, TX
Prices continue to rise on a year over year basis.
Sales fell 27.7% in August compared to last year. Pending sales came in with a 38.1% drop. The average sales price rose 24.5% while the median sales priced jumped 33%.The sales price to original list declined to 98.7%. More evedince that the market is returning to normal. New listings dropped by 14.4%. No help for buyers. Active listings increased 74.8% which seems like a lot, but you must remember that last August inventoties were very low. The months of Inventory stands at 1.7 months. We are still a very long way from the 6 months considered a balanced market.
Pending Sales: 70
Average Sales Price: $623,292
Median Sales Price: $600,000
List Price to Sales Price Ratio: 98.7%
New Listings: 119
Active Listings: 180
Months of Inventory: 1.7 months