Richardson TX Residential Sales Report for January
Cottonwood Park
Sales rose 4% in January. The average sales price climbed 28% while the median sales price jumped 30%. Pending sales fell 16%. The decline in pending sales is strictly due to the extremely low inventory. Buyers just can not find a home to purchase. The number of new listings did increase by 9% but the active inventory fell by 25%. The months of inventory now stands at 0.6 months. with 6 months normally considered a balanced market, it is easy to see how much this market is tilted to the Seller side.
Sales: 54
Average Sales Price: $290,665
Median Sales Price: $256,000
Pending Sales: 69
New Listings: 86
Active Listings: 61
Months of Inventory: 0.6
Information provided by The Real Estate Center
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