Dallas Area Residential Sales Activity Report for November

Single Family:

Sales were off by 1% in November. the average sales price increased by 9% while the median sales price was up by 12%. The increase in the median sales price is due to the large number of sales in the $200,000 to $400,00 price range. The number of pending sales increased by 6%. As usual the new listings declined by 3% and the active listings by 13%. The months of inventory stands at 2.5 months down from 2.6 last month.

Sales: 5.994
Average Sales Price: $ 240,921
Median Sales Price: $189,950
Pending Sales: 5,506
New Listings: 6,695
Active Listings: 18,461
Months of Inventory: 2.5

Condos and Townhouses:

Sales were up by 12%. The average sales price increased by 7% and the median sales price climber by 4%. Pending Sales were off by a slight 1%. The number of new listings dropped by 12% and the active listings were also down by 12%. The months of inventory stood at 2.7 months the same as last month.

Sales: 396
Average Sales Price: $212, 647
Median Sales Price: $160,500
Pending Sales: 366
New Listings: 448
Active Listings: 1,351
Months of Inventory: 2.7

Leases:

Rentals dropped of by 3%. The average lease price increased by 5% and the median lease price was up by 6%. The number of pending leases dramatically increased by 147%. This is simply a reflection of a very large number of leases that expired at the end of September. The numbers  should return to a more normal range next month. The number of new listings was down by 1% while the active listings declined by 9%.