Dallas Area Residential Sales Report for August – Dallas-Ft. Worth-Arlington MSA

Sales down, prices up!

Single family home sales fell 9.6% compared to last August. Pending sales dropped 10.5%. The average sales price rose 14% while the median sales price climbed 14.7%. The ratio of sales price to original list price came in at 98.1% New listings rose by 2.2%. Active listings jumped 69.6%. While that looks like a large increase it’s just that we are coming off a very large supply. Months of inventory remaines very low at 2.3 months. 6 months is comsidered a balanced market and we are a long eay from that number.

Sales: 8,762

Pending Sales: 7,827

Average Sales Price: $499,380

Median Sales Price: $413,025

Sales Price to Orihinal List Price: 98.1%

New Listings: 10,691

Active Listings: 18,448

Monyhs of Inventory: 2.3