Demand remains strong. Supply continues to decline.
Single-Family:
Sales were up by 10% in May as compared to last May. The average sales price increased by 7% while the median sales price rose by 8%. Pending sales jumped 24%we can anticipated a good sales number for next month. The number of new listings fell so by 1% and the active listings declined by 2%. The months of inventory now stands at 2.3 months.
The months of inventory is a little deceiving because in the price ranges from $100,000 to $250,000 the months of inventory is much closer to 1 month. If you are a buyer in these price ranges you should expect to pay considerably over the asking price and your Realtor my have to write 5 to 10 offers for you before you get 1 accepted.
Sales : 9,978
Average Sales Price: $289,377
Median Sales Price: $232,500
Pending Sales: 10,730
New Listings: 12,153
Active Listings: 18,108
Months of Inventory: 2.3
If you live in the Dallas area and would like a personalized Comparative Market Analysis (CMA) on your home delivered to your email in just a few minutes, then click the link below to take advantage of this offer.
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