Sales were flat. Inventory jumps!
Single-Family:
Sales were flat in May as compared to a year ago. The average sales price rose 3% while the median sales price was up by 9%. Sales prices continue to be concentrated in the upper price ranges. Sales in the lower price ranges are strong but there is just no inventory. Pending sales increased 18%. The number of new listings had a nice increase of 12% while the active listings really to a jump up with a 35% increase. The risr in listings pushed the months of inventory up to 2.2 months. While it's good to see the increase in listings if you are a buyer, it is only mildly helpful. We are still way short of the 6 months that is considered a balanced supply/demand number. We are still very much in a Seller's Market.
Sales: 396
Average Sales Price: $405,949
Median Sales Price: $381,380
Pending Sales: 444
New Listings: 553
Active Listings: 718
Months of Inventory: 2.2
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.
No comments:
Post a Comment