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.
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