Richardson, TX Residential Real Estate Report for February

Single-Family:

Sales were up by 9% in the Richardson area in February. The average sales price increased by 12% and the median sales price by 13% as compared to last February. Pending sales jumped 24%. Looks like March will continue to see good sales. We did see an 8% increase the new listings but the active listings fell by 40%. The months of Inventory now stands at a new low on ½ month. This is really getting to be unbelieveable!

Sales: 83

Average Sales Price: $227,832

Median Sales Price: $219,000

Pending Sales: 88

New Listings: 85

Active listings: 53

Months of Inventory: ½ month

Condos and Townhouses:

There are not a lot of condos and townhouses in the richardson area so the numbers tend to be volatile.

Sales were off by 31%. The average sales price jumped by 132% and the median price by 122%. Has some sales in the upper price ranges to pull these averages up like this. Pending sales  were down by 41%. The number of new listings dropped by 11% and the active listings by 17%. The months of inventory fell to 2.1 months.

Sales: 9

Average Sales Price: $147,375

Median Sales Price: $120,000

Pending Sales: 10

New Listings: 17

Active Listings: 29

Months of Inventory: 2.1

Leases:

Leases were down by 31%. The average rent increased by 12% while the median rent was up by 13%. Pending leases were flat. the number of new listings increased by 12% but this was not enough to keep the active listings from falling by 12%. The months of inventory is now at 1.2 months.

Leases: 27

Average Rent: $1,522

Median Rent: $1,470

Pending Leases: 14

New Listings: 37

Active Listings: 44

Months of Inventory: 1.2