It's a Seller's Market in Richardson
Single family sales were down by 4% and the number of pending sales declined 17%. Richardson has one of the smallest supply of homes on the market in the area. The months of inventory stands at 1.1 months and because of this shortage buyers are having a very difficult time finding a home to purchase. The average sales price climbed 18% as did the median sales price. The number of new listings dropped 7% and the active listings declined 13%.
Just before writing this article, I checked with our MLS. There are 4 homes in Richardson on the market under $200,000. If you are a buyer in the under $200,000 price range, I suggest that you might be better off looking in another near by City such as Garland.
Sales: 109
Average Sales Price: $289,338
Median sales Price: $271,000
Pending Sales: 97
New Listings: 117
Active Listings: 111
Months of Inventory: 1.1
Information provided by The Real Estate Center at Texas A&M
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