Dallas Area Residential Sales Report for December

Dallas Area Residential Sales Report for December

Well there is no way to sugar coat it. Sales were just down 9% and pending sales fell 11% in December as compared to last December. Not shaping up for a good start for 2019. The average sales price rose 2%. The median sales price increased 4%. There was a 2% rise in the number of new listings. Active listings came in 22% higher. The months of inventory is at 2.4 months. this is a low number and buyers are having a hard time finding a home that fits their lifestyle.

The major share of the market continues to be in the $200,000 to $399,999 range with 54% of the total sales. There is about a 2.3 months supply in this range. Sales in the $100,000 to $199,999 range experienced negative sales numbers primarily due to the shortage of supply with only around a 1.5 months of inventory. Sales in the upper price ranges remain positive with a 4.5 month supply. the million plus area say a 6% increase in sales and a 7.6 month inventory.

Sales: 7,786

Average Sales Price: $311,839

Median Sales Price: $259,000

Pending Sales: 6,117

New Listings: 6,654

Active Listings: 21,309

Months of Inventory: 2.4

Information provided by the Real Estate Center