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
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