Sales in Richardson were down by 7% in October. The average sales price was up by 2% while the median sales price declined by 1%. Pending sales were up by 7%. The number of new listings declined by 10%. The active listings declined by 34%. The months of inventory now stands a 1 month.
Sales in Richardson were down not because of less demand but because there is almost nothing to buy! Any decent house that hits the market has multiple offers before the end of the second day and usually by the night of the first day. If you are wanting to purchase a home in Richardson, you and your Realtor had better be really quick to get to the property and get an offer written.
Sales: 92
Average Sales Price: $207,062
Median Sales Price: $184,000
Pending Sales: 110
New Listings: 106
Active Listings: 108
Months of Inventory: 1
Condo and Townhouse Sales:
Sales in this category were up by 13% in October. The average sales price was up by 10% and the median sales price increased by 34%. Pending Sales were up by 31%. The number of new listings increased by 17% but the active listings still declined by 5%. there is a 3.3 months supply on the market.
There are not many condos and townhouses in Richardson so the numbers can change a lot from month to month.
Sales: 17
Average Sales Price: $106,590
Median Sales Price: $104,000
Pending Sales: 17
New Listings: 27
Active Listings: 40
Months of Inventory: 3.3
Leases:
Leases were up by 16%. The average lease price increased by 3% while the median lease price went up by 2%. Pending leases were up by 233%. The number of new listings decreased by 2% and the active listings by 18%. There is a 1.2 months supply available for lease.
If you are wanting to lease, you have the same problem as buyers, nothing to choose from.
Leases: 43
Average Rent: $1,348
Median Rent: $1,369
Pending Leases: 30
New Listings: 56
Active Listings: 50
Months of Inventory: 1.2
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