Richardson Texas Residential Sales Report for October

Single-Family:

Sales fell off a cliff! Down 29%. There is a very real shortage of good properties for sale in Richardson and this fact is having an impact on sales as buyers just can not find properties to purchase. The average sales price increased 11% while the median price increased 8%. Pending sales were also down. Off 14%. The number of new listings fell 2% and the active listings dropped 12%. The months of inventory now stands at 1.1 months. Bases on the decline in inventory and the pending sales numbers, we can anticipate that the sales numbers will probably be down next month.

Sales: 83
Average Sales Price: $279,671
Median Sales Price: $249,900
Pending Sales: 100
New Listings: 119
Active Listings: 106
Months of Inventory: 1.1

Information provided by The Real Estate Center at Texas A&M