North Dallas/Richardson/Plano Real Estate

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

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 

After being up for the last 2 months sales fell by 20% in the month of December.  The average sales price and the median sales price increased but this looks like it was due to some sales of higher priced homes. The number of Pending Sales decreased by 7%. New listings increased but the number of active listings continues to shrink. The months of inventory is at 2.9 months. This is a very low number and if you are a buyer you have very little on the market to choose from.

Sales: 52

Average Sales Price: $189,339

Median Sales Price: $171,000

Pending Sales: 42

New Listings: 82

Active Listings: 231

Days on Market: 59

Months of Inventory: 2.9

Sales were up 41% in November. The average sales price increased by 2% and the median sales price increased by 7%. The number of new listings increased sharply but the number of active listings continues to be very low. The months of inventory number is only 2.9 months.

With inventory levels this low, if you are a Buyer, you better have an agent who can get you in the best houses the day they come on the market!

Sales: 89

Average Sales Price: $190,913

Median Sales Price: $182,750

Pending Sales: 50

New Listings: 97

Active Listings: 238

Days on Market: 42

Months of Inventory: 2.9

Richardson continues to fair better than any other city in the Metroplex. Sales for October were up 25% and the average sales price rose 3%. The number of active listings continues to drop creating a very low supply of homes for sale. Homes in October sold on average in 36 days.

Sales: 91

Average Sales Price: $180,602

Median Sales Price: $169,500

Pending Sales: 73

New Listings: 122

Active Listings: 230

Months of Inventory: 2.9

If you are interested in purchasing a home in Richardson, you better have a good Realtor who can get you in the homes the day they come on the market because the best homes sell quickly!

The Nation Association of Realtors released their Nations Sales Report for August today and I thought it might be helpful to compared the Richardson market to the national market.

The National Association of Realtors reported sales nationally were of by 2.7% in AAugust compared to August of last year. The median price fell by 12.7% and there was a 8.5 months supply on the market.

Our local MLS numbers for August in the Richardson area show sales were flat at 0%. The median sales price declined by only 2% and the months of inventory was 2.9 months. 

The Richardson market is holding up very well as compared to the Nation Market and will continue to do so as long as the supply of homes for sale remains low.

Sales were flat in August and we saw a small decline in the average and median sales prices. Pending sales were up slightly while the number of new listings and active listings continues to shrink. Active listings fell 35% leaving us with only 225 homes on the market. This represents a 2.9 month supply.

As I have been saying now for several months, I you are looking to purchase a home in Richardson, you have very little to choose from. The best homes are going quickly! You better have a good agent that stays on top of the new listings and can get you in to see them the first day they hit the market are you will miss out!

Sales: 100

Average Sales Price: $177,123

Median Sales Price: $162,350

Pending Sales: 86

Active Listings: 225

Average Days on Market: 52

Months Inventory: 2.9 

After a strong month of sales in June, July saw a very small decline of 1% in the number of sales. The average sales price increased by 5% and the median sales price increased by 10%. Days on market decreased to 48 days.

The number of active listings continued its decline shrinking by 30%. The months of inventory is now 3.3 months. This is an extreamly low level and means if you are looking for a house in Richardson you have very few to chose from. The best houses are going quickly!

Sales: 119

Average Sales Price: $178,026

Median Sales Price: 166,250

Days on Market: 46

Active Listings: 254

Months of Inventory: 3.3

Yes! Yes! I know! Sales are terrible and we are over run with foreclosures or at least that what you hear on TV and read in the papers.

Well here is the truth! 

June saw a 26% increase in sales in the Richardson market. This increase was accompanied by a 4% increase in the average sales price and an 8% increase in the median sales price. Pending sales increased by 21%. While the number of new listing dropped by 2% and the number of active listings declined by 35%. This decline in the number of active listings along with the sharp increase of sales left the Richardson market with only a 3.2 month supply of homes on the market. This is an extremely low number!

Listing Agents are reporting that they are receiving multiple offers on the best properties as soon as they come on the market and Buyer Agents are saying that their clients are having to make offers over the listing price to get these properties. This is perticulary true in the West Richardson area.

This demand is being fueled by the shortage of quality properties currently on the market.

If you want to buy in the Richardson market, you better have a top agent that can get you in the best properties the day they come on the market and you better be prepared to write a full price offer or higher as soon as you get back to you agent's office if you expect to get the house.

June Sales:

Sales: 121

Average Sales Price: $184,214

Median Sales Price: $169,000

Pending Sales: 97

New Listings: 138

Active Listings: 251

Months of Inventory: 3.2

For May sales in the metroplex were off by 24% and the average sales price declined by 5%.

Richardson fared much better. Sales were down in Richardson by 13% but the average sales price was up by 2% while the median sales price was down by 2%. These 2 small changes in price really indicate a flat sales price. While the number of active listings and new listings continued to decline, pending sales saw an increase for the first time in months.

The continued decline in the number of homes on the market is creating a real shortage in the market place. The homes that are priced correctly and have been updated are going very quickly. Sometimes in 1 day. 

If you are thinking about buying a homes in West Richardson you better be prepared to make an offer on the first home you see that meets your wants and desires because if you wait for several days to make up your mind, it will probably be gone. 

MAY SALES DATA:

SALES: 90 A 13% DECREASE

AVERAGE PRICE: $181,954

MEDIAN PRICE: $162,000

DAYS ON MARKET: 54

PENDING SALES: 86

NEW LISTINGS: 143

ACTIVE LISTINGS: 307

MONTHS OF INVENTORY: 4