Single-Family:
Sales were down in Richardson by 39%. This decline is not due to a lessening in demand but because there is such a huge shortage of properties for sale, buyers just can not find anything to buy. Every day I get emails from buyer’s agents wanting to know if I have anything coming up.
The average sales price was up by 10% while the median sales price increased by 12%. Pending Sales were down by 34%. Again due to the shortage of properties. The number of new listings shrank by 22% and the new listings dropped by 15%. The months of inventory stands at 1.1 months.
Sales: 63
Average Sales Price: $202,194
Median Sales Price: $187,000
Pending Sales: 59
New Listings: 73
Active Listings: 105
Months of Inventory: 1.1
Condos and Townhouses:
Sales were up by 100%. The average sales price increased by 9% while the median sales price declined by 5%.
There are very few condos and townhouses in Richardson so these numbers tend to be very volatile.
Pending sales were down by 42%. The number of new listings increased by 7% and the active listings increased by 3%. The months of inventory is at 3.2 months.
Sales : 10
Average Sales Price: $110,392
Median Sales Price: $89,900
Pending Sales : 11
New Listings: 16
Active Listings: 39
Months of Inventory: 3.2
Leases:
Leases decreased by 29% in November. Just like single-family this decrease is due to a shortage of properties available for lease. The average rent increased by 4% while the median rent was flat. The number of pending leases jumped by 325%. The new listings decreased by 27% and the active leases decreased by 29%. The months of inventory is extremely low at 1.2 months.
Leases: 34
Average Rent: $1,546
Median Rent: $1,500
Pending Leases: 17
New Listings: 38
Active Listings: 48
Months of Inventory: 1.2
Information provide by The Real Estate Center at Texas A&M
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