Richardson bucked the trend this month and saw a 12% increase in sales. The average sales price increased by 18% while the median sales price increased by 1%. These increases as in past months are caused by higher than normal sales in the upper price ranges. The first time buyers who traditionally buy in the lower price ranges are still out of the market.
The number of new listings dropped by 37%. The number of active listings increased by 26%. This percentage increase in the active listings is a little misleading because in February of 2010 the active listings in Richardson was very low. The simple fact is there are only 338 homes for sale spread across all the price ranges and all of the area. In any given neighborhood you will not find many homes for sale.
The months of inventory now stands a 5 months. This is second lowest in the area.
Pending Sales continue to lag down by 25%.
Sales: 57
Average Sales Price: $184,834
Median Sales Price: $161,900
New Listings: 80
Active Listings: 336
Months of Inventory: 5
Pending Sales: 41
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