Dallas Area Residential Sales Report for March – Plano, TX

Prices increase as inventory continues to remain in short supply.

This report is a current month versus  previous month.

Sales rose 6.21%  in March compared to February. Pending sales jumped 16.39%. The median sales price increased 1.69% while the average sales price rose 0.35%. Ratio of list price to sales price rose 2.18%. We are starting to see more properties sale over list price as supply shrink. New listings shot up 60.56% but with all the sales active listings only climbed by 5.79%. Days on the market declined by 13.64%. Months of inventory came in  with a 25% increase but that only represented a 0.2 months increase.  6 months is considered a balanced market an we  are a long way from that number,

Sales: 177

Pending sales: 142

Median Sales Price: 525,000

Average Sales Price: $603,509

Ratio of  original list price to ales price: 98.5%

New Listings: 228

Active Listings: 198

Days on Market: 38

Months of inventory: 1 month