North Dallas/Richardson/Plano Real Estate

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 

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

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

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