Homes sales to a big jump up in October! Richardson is still very much a Seller's market.
Single-Family:
Homes sales jumped 29% in October as compared to a year ago. The average sales price rose 24% while the median sales price increased by 26%. I know these price increases look astronomical and they are. It is just the law of Supply/Demand. As long as the available inventory (supply) remains below demand prices will continue to rise.
Pending sales were up by 5%. The number of new listings had a healthy increase of 14% while the active listings rose by 12%. Good new on the supply side but the months of inventory only increased to 1.2 months. Still way short of a balanced 6 months.
Sales: 125
Average Sales Price: $258,027
Median Sales Price: $233,000
Pending Sales: 116
New Listings: 121
Active Listings: 121
Months of Inventory: 1.2
Information provided by The Real Estate Center at Texas A&M
A blog about residential real estate in the Dallas area including Far North Dallas, Richardson, , Plano, Allen, McKinney, Frisco, Prosper, Celina Carrollton-Farmers Branch, Garland, and Wylie.
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