Dallas Area Residential Sales Report – Richardson

The Richardson Market topped out in May. I thought it might be interesting to you to see how it has performed since them. Data is s comparison of May to October.

Compared to last May sales in October were off by 8.39%. Pending sales fell 42.03%. Median sales price declined 34.84% and the average sales price was down 32.61%. The ratio of sales price to original list price was 11.39% lower. New listings declined 35.97%. Active listings rose 40.66%. Days on market expanded by 245.45%. The months of inventory jumped up 55.56%.

We are still in a short supply situation and the large increases in active listings and months of supply are caused by listings staying on the market long. Not a lot of new listings.

May                        Oct.                Change

Sales:

91                             83                     -8

Pending Sales:

69                              40                      -29

Median Sales Price:

505,110                    452,500           -52,610

-Average Sales Price:

562,672                    498,631            -64,041

Ratio/ to Original Sales Price:

108%                          95.7%              -12.3%

New Listings:

139                              89                      -50

Active Listings:

91                             471                        37

Days on Market:

11                                38                        27

Months of Inventory:

0.9                                 1.4                    0 .5

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