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
