Dallas Area Residential Sales Report for May

Dallas Area Residential Sales Report for May

No slowdown around here!

Sales of homes in the Dallas area continue to set records. In May sales were up 15%. The average sales price increased 8% while the median sales price rose 10%. Pending sales grew by 5%. We did see more homes listed for sale in May with the new listings number up 16%. This increase took the active listing to a 10% increase and the months of inventory moved to 2.4 months. While these increases in listings are certainly welcome by buyers, we are still well short of the 6 months that is considered a balanced market. The market is very tilted to favor the sellers.

Sales in the $100,000 to $199,999 range continue to decline as buyers just can not find homes to purchase in this range. The months of inventory remains around 1 month and an attractive property in this price range attracts many offers.

The price range of $200,000 to $399,999 has the most inventory (tho very low at around 2 months) and sales. 48% of all sales in May were in this range.

Sales above $500,000 performed well and for the year to date show double digit increases. Buyers have the advantage in these upper ranges with more than a 6 months supply to chose from.

Sales: 10,939

Average Sales Price: $311,235

Median Sales Price: $255,000

Pending Sales: 11,311

New Listings: 14,116

Active Listings: 14,116

Months of Inventory: 2.4

Information provided by the Real estate Center