Sales were off by 15% from May of last year. The average sales price was up by 5% while the median sales price remained flat. We are still seeing more sales in the upper price ranges but this may be about to change.
The number of new listings was down by 3% and the number of active listings declined by 4%.
Months of inventory remains high at 7.8 months.
NOW FOR THE GOOD NEWS!
Pending sales jumped a whopping 35% in May. If these pending sales hold we should have a positive report next month.
Also in the May report there were pockets of positive sales. North Dallas, The Lake Highlands area, Plano, Richardson, and Highland Park all showed upticks in sales.
The far suburbs remained in negative numbers for May but have strong pending sales numbers boding well for these areas in next months report.
Average Sales Price: $205,341
Median Sales Price: $150,000
New Listings: 10,314
Active Listings: 37,790
Pending Sales: 6,003