North Dallas Residential Sales Report for August

North Dallas Residential Sales Report for August

Sales were soft in August

Sales in August were off by 5% compared to last August. More troubling however was the 20% drop in pending sales. Pending sales are forward looking so we can anticipate the September sales number will be negative.  The average sales price increase 2% while the median sales price fell 3%. The number of new listings was flat. Active listings rose 17% and the months of inventory now stands at 5.9 months. This is very close to the 6 months that is considered a balanced market.

Sales: 72

Average Sales Price: $1,192,739

Median Sales Price $ 847,500

Pending Sales: 51

New Listings: 83

Active Listings: 233

Months of Inventory: 5.9

Information provided by The Real Estate Center