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.

Sales: 115

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