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

Single family home sales declined 7.3% compared to last April. Pending sales dropped 1.6%. The median sales price fell 5.7% while the average sales price was off by 3%%. The ration of original list price to sales price declined 8.3%. New listings were 13.2% lower. Active listings rose 86.6% and the months of inventory jumped 115.2%. Those numbers are very deceiving because  the comparison is to extremely low numbers. 6 months is considered a balanced market and the April number was 2.1  months, We are still a very long way from a balanced market. The only people we see putting their homes on the market are people  who have to move for some reason.

Sales: 7,489

Pending Sales: 8,486

Medina Sales Price: $400,999

Average Sales Price: $501,387

Ratio of List Price to Sales Price: 96.7%

New Listings: 9,669

Active listings: 15,377

Days on Market: 52

Months of Inventory: 2.1