North Dallas/Richardson/Plano Real Estate

Sales were only down by 5% in Plano for June. This is a lot better than other areas. The average sales price was up by 9% and the median sales price was up by 11%. while it's always better to be going up than down, I believe this increase was due to more upper end houses selling than some general increase in prices.

The pending sales number was down by 15% but again this was not as bad as other areas.

The number of new listings increased by 6% while the number of active listings jumped 16%. this pulled the months of inventory up to 5.5 months. If you are a buyer this is good news because it means that you now have more homes to chose from.

Sales: 303

Average Sale Price: $466,333

Median Sales Price: $514,000

Pending Sales: 202

New Listings: 468

Active Listings: 1.353

Months of Inventory: 5.5

With the end of the tax credit Richardson appears to have been harder hit with declining sales that some other areas. Sales were down in June by 28% and the average sales price was down slightly by 2%. More troubling that those figures were the pending sales figure that was down by 41% and the number of active listings that jumped 61%. Even with these numbers, Richardson still has a relatively low months of inventory compared to other areas with a 6 month supply.

Sales: 87

Average Sales Price: $181,784

Median Sales Price: $169,500

Pending Sales: 57

New Listings: 146

Active Listings: 403

Months of Inventory: 5 

For May sales were off by 5% compared to last May. The average Sales price was up by 2 % while the median sales price declined by 2%. The number of new listings contracted by 13%. The number of active listings dropped by 4% helping to keep months of inventory at a relatively low level of 5.3 months.

The real problem was the sharp contraction of 33% in the pending sales. This does not bode well for next months sales.

Sales: 254

Average Sales Price: $251,403

Median Sales Price: $215,000

Pending Sales: 157

New Listings: 397

Active Listings: 1.292

Months of Inventory: 5.3

Sales were up by 10% in May but we saw declined in both the average sales price and the median sales price. Average days on market continues to be low at 48 days. The number of new listings shrank by 15% but the number of active listings increased by 21%. The months of inventory, while creeping up, is still very low at 4.4 months.

The real problem with the May numbers is found in the pending sales which declined by 40%. The end of the tax credit is hitting sales very hard.

Sales: 97

Average Sales Price: $166,257

Median Sales Price: $160,000

Pending Sales: 52

New Listings: 122

Active Listings: 370

Days on Market: 48

Months of Inventory: 4.4

This report covers North Dallas north of LBJ.

Sales were up 49% in April compared to a year ago. The average sales price was down by 2% while the median sales price was up by 4%. The number of pending sales shot up by 68% which indicates another good increase for May. The number of new listings was up by 13% but the number of active listings only climbed by 3%. The months supply of inventory is still high at 7.6 months.

We do not know what effect the tax credits had on this months sales but next months pending sales will give us a good idea if the upward trend will continue.

Sales: 100

Average Sales Price: $284,656

Median Sales Price: $266,400

Days on Market: 69

Pending Sales: 99

New Listings: 188

Active Listings: 540

Months of Inventory: 7.6

Sales continue to be erratic in the Richardson market. Up one month and down the next. March was not an exception. After being up in February sales were off 5% in March. For the year so far sales are just about flat at a 1% decline.

The average sales price moved higher to $175,390 but this was due to more sales occurring in the higher price ranges. It looks like the $6,500 tax credit for move-up buyers may be having some effect.

The pending sales number is up 12% so it looks like April will be a good month for sales as buyers rush to get homes under contract before the tax credits expire at the end of April. I do not believe these credits will be extended again so starting in May will be the real test as to how the real estate market will hold up.

Sales: 72

Average Sales Price: $175,390

Median Sales Price: $170,000

Average Days on Market: 59

Pending Sales: 73

New Listings: 180

Active Listings: 307

Months of Inventory: 3.9

This report covers the City of Dallas North of LBJ.

Sales fell sharply in this area in February as they did in a number of other areas. The average sales price increased slightly due to several sales occurring in the upper price ranges. Pending sales were also off by double digits. The number of new listings and active listing increased putting more supply on the market and increasing the months of Inventory to 6.4 months.

Sales: 46

Average Sales Price: $326,671

Median Sales Price: $264,200

Pending Sales: 51

New Listings: 148

Active Listings: 444

Months of Inventory: 6.4

Sales were up 11% in the Richardson area for the month. however, the average sales price declined by 12% from the same time last year. Pending Sales, a forward looking indicator was off by 7%. We saw a large jump in the number of new listings but the active listings are still down by 2% leaving us with an inventory of only 3.3 months. RRichardson continues to have the lowers supply of homes on the market of any area. The best homes sell quickly!

Sales: 52

Average Sales Price: $157,809

Median Sales Price: $159,900

Pending Sales: 55

New Listings: 127

Active Listings: 268

Months of Inventory: 3.3

This report covers the area north of Northwest Hwy. and south of LBJ.

Well this month's report is a perfect example of how statistics can sometimes be misleading!

The report shows sales jumped 100%. Sounds great, but there were only a total of 28 Sales. Not exactly setting the market on fire. The average Sales price continued to decline and the number of active listings also declined. The months of inventory is now down to 13.4 months. This is still very high but not as bad as it has been.

Now for the good news! There were several million dollar plus sales this month!

Sales: 28

Average Sales Price: $789,026

Median Sales Price: $432,000

Days on Market: 107

Pending Sales: 31

New Listings: 117

Active Listings: 521

Months of Inventory: 13.4

Sales were off by 4% in January compared to a year ago. The average sales price and median sales price both were up sharply but this was due to an atypical distribution in the price ranges. Basically what happened was that there were fewer homes selling in the lower price ranges and a few more sales in the upper ranges. Pending sales were down by 4% and the number of active listings continues to decline leaving a very small 2.9 months of inventory.

Richardson has the smallest inventory on the market of any area. If you are a buyer this leaves you with very few choices. The best homes go quickly!

Sales: 43

Average Sales Price: $183,658

Median Sales Price: $176000

Pending Sales: 55

New Listings: 91

Active Listings: 230

Months of inventory: 2.9