Richardson, TX Residential Sales Report for January

Single-Family:

Sales were down by 8% in the Richardson area for January. As in the previous months this decline in sales is not due to less demand but to the shortage of available homes for sale. The average sales price increased by 14% while the median sales price was up by 7%. Pending sales were up by 15%. The number of new listings declined again this time by 9% and the active listings dropped by 32%. there is now a 0.7 month supply of homes for sale in the area.

Sales: 67

Average Sales Price: $ 233,755

Median Sales Price: $200,200

Pending Sales: 90

New Listings: 86

Active listings: 68

Months of Inventory: 0.7

Condos and Townhouses:

Richardson does not have a large number of condos and townhouses so the numbers can be erratic:

Sales were up by 229%. The average sales price increased by 4% while the median sales price  declined by 37%. Looks like there were a number of sales at the lower end of the rage but also some sales at the top end. Pending sales were up by 30%. the new listings increased by 35% but this did not offset the decline of 31% in the number of active listings. The months of inventory is now at 1.9 months.

Sales: 23

Average Sales Price: $99,545

Median Sales Price: $48,000

Pending sales: 13

New Listings: 23

Active Listings: 27

Months of Inventory: 1.9

Leases:

Residential leases were off by 47% in January. The average rent increased by 11% and the median by 4%. Pending leases increased by 30%. The new listings dropped by 24% and the active listings by 17%. there is a 1.3 months supply. just a little better than homes for sale.

Leases: 23

Average Rent: $1,550

Median Rent: $1,450

Pending Sales: 13

New Listings: 41

Active Listings: 50

Months of Inventory: 1.3

Information provided by The Real Estate Center at Texas A&M.