The Rockwall County housing market continues no sign of cooling off, as sellers are reportedly receiving more than their planned asking prices.
However, there is a potential lack of future housing inventory, with only a few weeks of homes available on the market.
The latest report from North Texas Real Estate Information Services Inc. indicated May saw 283 new listings in the county, down 15.3% from the same point in 2020 and down 18.8% for the year to date.
There were 232 pending sales in the county during May, a decrease of 27.3% from the same point one year earlier and down 10.6 percent for the year to date.
But the average sales price in the county as of the end of May was reported to be $439,612 representing a rise of 25.2% from the same point in 2020. The average sales price of $406,977 was an increase of 21.1% for the year to date.
Sellers were reported to be receiving 104.2% of the listing price for the homes during May and an average of 101.4% for the year to date.
Homes were on the market for 24 days before selling during May, 63.1% faster than one year earlier.
There were reported to be 218 homes available in the county as of May, down 65.5% from May 2020 and there were less than one month’s supply of homes available for sale in Rockwall County during May, representing a 66.7 percent drop from the same point one year earlier.