Dallas Area Residential Sales Report for October

Single family sales were up by 13% for the month of October as compared to a year ago. The average sales price increased by 9% while the median sales price was up by 7%. Pending sales came in up a strong 20% indicating a strong month for November. The number of new listings increased by 2% but the number of active listings continued to fall and was down by 11%. The months of inventory remains very low at 2.6 months

Condo and townhouse sales remain strong up by 17%. The average price increased by 9% while the median price was up by 5%. Pending condo and townhouse sales were up by 35%. The number of new listings increased by 8% but this did not help the number of active listings which was down by 11%. The months of inventory is just as bad as the residential number and stands at 2.7 months.

Residential:

Sales: 7,859
Average Sales Price: $240,556
Median Sales Price: $185,000
Pending Sales: 6,987
New Listings: 8,912
Active Listings: 20,118
Months of inventory: 2.6

Condos and Townhouses:

Sales: 535
Average Sales Price: $213,467
Median Sales Price: $157,000
Pending Sales: 477
New Listings: 677
Active Listings: 1,384
Months of Inventory: 2.7