Sales continue to be weak in Richardson. For the month of April there were 56 properties sold. This represents a 52% decline over last April's sales. The average sales price declined to $155,997, a 9% decrease, and the median sales price declined to $149,500, an 8% dropoff.
The number of pending contracts fell 29% to 72. The number of new listings fell 16% to 126. At the end of April there were 299 homes for sale. This represents a 21% decline.
Richardson only has a 3.9 months supply of homes for sale. This is an extreamly low number and if you are a Buyer you have very few homes to chose from.
I know the media says that the price decline is due to the high number of foreclosures on the market, but this is not the case in Richardson. The truth is there just are not that many foreclosures in Richardson. The foreclosures that do exist are scattered throughout the City and are not impacting any neighborhood values.
