Richardson, TX Residential Sales Report for June

Single-Family:

Sales were up 2% in June. The average sales price increased 14% while the median sales price rose 15%. Sales were concentrated as usual in the upper price ranges and this helps pull the averages up. Pending sales fell 23%. The number of new listings declined by 1% while the active listings dropped 2%. The months of inventory now stands at 1.1 months.

Richardson is a very hot market. The best properties are only on the market a day or two.

Sales: 128

Average Sales Price: $260,905

Median Sales Price: $238,520

Pending Sales: 89

New Listings: 137

Active listings: 115

Months of Inventory: 1.1

Condos and Townhomes:

Condo and Townhome sales jumped by 108%. The average sales price increased by 31% and the median price by 33%. We obviously has some sales of higher in townhouses. Pending sales were up by 15%. The number of new listings increased by 9% and the active listings by 3%. the months of inventory is now at 2.5. months.

Sales: 27

Average Sales Price: $151,392

Median Sales Price: $118,020

Pending Sales: 15

New Listings: 25

Active Listings: 38

Months of Inventory: 2.5

Leases:

Leasing activity in June declined by 37%. The average rent increased by 9% and the median rent by 6%. Pending leases jumped 117%. The new listings fell 18% and the active listings dropped 26%. The months of inventory is at 1 month. It’s just as hard to find a home to rent in Richardson as it is to find one to buy.

Leases: 34

Average Rent: $1,635

Median Rent: $1,500

Pending Leases: 25

New Listings: 56

Active Listings: 40

Months of Inventory: 1

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