Allen, TX Residential Sales Activity Report for September

Sales in Allen were up by 16% in September. The average sales price increased by 13% while the median sales price was up by 7%. Pending Sales were up by a strong 38% which means we can look forward to a strong October sales number. The number of new listings declined by 4% . Not  helping on the supply side. the number of active listing was up by 4% but with the high demand this inventory will only last 1.8 months.

Sales: 134

Average Sales Price: $316,043

Median Sales Price: $280,000

Pending Sales: 127

New Listings: 115

Active Listings: 214

Months of Inventory: 1.8

Information provided by the Real Estate Center at Texas A&M

2014 Downtown Plano Festival Saturday October 25th

2014 Downtown Plano Festival Saturday October 25th

Plano, TX Residential Sales Activity Report for September

Sales in September were down by 4%. The average sale price continued to climb and was up by 6% while the median sale price was up by 9% indicating more sales in the higher ranges.

Pending sales were up by 20% so we can look forward to a rebound in October. The number of new listings was up by 13% but this did not help the shortage of properties currently on the market. The number of active listings was down by 22% and the months of inventory shrank to 1.5 months.

As in many other Cities in the Dallas area, Plano continues to be a strong sellers market and this trend will continue until we see the supply of homes increase sharply or demand by buyers diminish. Neither of these look likely to occur soon.

Sales: 322

Average Sales Price: $320,639

Median Sales Price:   $268,500

Pending Sales: 253

New Listings: 309

Active Listings: 431

Months of Inventory: 1.5

Information provided by the Real Estate Center at Texas A&M.

Builders Are Losing Confidence

Don't know about other parts of the country, but here in the Dallas area builders can't keep up with demand.





Builders Are Losing Confidence

September Residential Sales Activity Report for Far North Dallas

After being down last months sales in the Far North Dallas area took a sharp jump up. compared to last September sales were up 23%. The average sales price increased by 3% while the median sales price shot up by 20% indicating more sales in the higher price ranges.

Pending sales were up by 50% indicating a substantial increase in the October sales. There was also a large increase in new listings, up 41%  and while this helps, the number of active listings is still  down by 7% compared to this time last year.  The number of months of inventory stands at a very low of 2.4 months.

Sales: 114

Average Sales Price: $388,461

Median Sales Price: $349,000

Pending Sales: 96

New Listings: 134

Active listings: 243

Months of Inventory: 2.4

September Richardson, TX Residential Sales Activity Report

September saw continued strength in sales. Sales were up by 6% compared to September of last year. The average sales price did experience a small decline of 2% but the median sales price was up by 8%. The number of new listings went down by 11% while the number of active listings declined by 40%. The simple fact is that there  are just not many homes to choose from and the best ones get gobbled up as fast as they hit the market. The months of inventory in the Richardson area is 1.1 months. The only negative is a 6% decline in the number of pending sales but this is probably due to the extreme shortage of properties available.

Sales: 121

Average Sales Price: $211,487

Median Sales Price: $195,000

New Listings: 96

Active Listings: 110

Months of Inventory: 1.1

Pending Sales: 80

Information provided by:

The Real Estate Center

Texas A&M

September Dallas Area Residential Sales Activity Report

Residential single family sales rebounded in September from the small dip that occurred in August. September sales were up by 6%. Sales prices continued their upward trend. Average sales price was up by 8% and the median price was also up by 8%. Pending sales were up by a strong 27% which means we can look forward to a strong October report. There was a small increase in the number of new listings (5%) but the number of active listings continues to shrink being down by 10%. The months of inventory remains very low at 2.7 months. Until we see the months of inventory start to rise prices will continue to go up.

Condos and townhomes experienced a slight drop in sales (1%) but the average sales price was up by 7% and the median sales price was up by 14% indicating more sales at the upper end of the price range. Pending condo and townhouse sales were up by a strong 12% and while we has a small increase of new listings (2%) the number of active listings continued to decline down 10%. The months of inventory for condos and townhouses remains low at 2.8 months.

I had clients last week looking for a new build. Over the course of the week we visited with a large number of builders and almost none of them had any spec homes to purchase. The new homes market is tighter that the existing home market.

Single Family:

Sales: 7,841

Average Sales Price: $239,124

Median Sales Price: $186,500

Pending Sales: 7,200

New Listings: 8,892

Active Listings: 21,088

Condos and Townhouses:

Sales: 504

Average sales Price: $208,637

Median Sales Price: $164,500

Pending Sales: 454

New Listings: 624

Active Listings: 1,408

Information provided by the Real
Estate Center at Texas A&M