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Richardson Real Estate Market Update
Latest Update: May 8, 2025
📊 Key Highlights This Month:
• Median price down 7.9% to $448,750
• Inventory up 62.7% year-over-year
• Homes closing in 55 days — 6 days longer than April 2024
🏠 Home Prices: Notable Year-Over-Year Decline
The median home price in Richardson fell to $448,750 in April 2025 — a 7.9% decrease year-over-year. This correction reflects a cooling market and rising inventory, which has shifted some negotiating power back to buyers.
📈 Inventory Builds While Sales Slow
Active listings climbed to 275 (▲ 62.7% YoY), while closed sales dropped to 84 homes (▼ 27.6%). Months of inventory rose to 3.4, suggesting a market that’s balancing out after years of seller-driven activity.
⏱ Closing Timelines Slightly Longer
Days on Market: 28 (up 7 days YoY)
Days to Close: 27 (down 1 day)
Total Transaction Time: 55 days (up 6 days YoY)
Additional metrics: Median price per square foot: $226.34 (▼ 4.2%)
Median home size: 1,960 sq ft
Median year built: 1971
Close-to-original list price ratio: 98.1%
What Sellers Need to Know
- ✅ Prices are down: A 7.9% YoY dip means realistic pricing is critical.
- ✅ Inventory is rising fast: More listings = more competition.
- ✅ Closings take longer: Plan for about 55 days from list to close.
- ✅ Strong offers still exist: Homes are selling at 98.1% of original list price.
- ✅ Home updates help: With a median year built of 1971, condition makes a big difference.
What Buyers Need to Know
- ✅ More inventory to choose from: Listings are up 62.7% — great time to shop.
- ✅ Prices have softened: The median is down nearly 8%, helping stretch your budget.
- ✅ Negotiate strategically: Sellers are motivated, especially if homes need updates.
- ✅ Older homes dominate: Median build year is 1971 — expect to budget for updates.
- ✅ Quick closes possible: 27-day close timeline means lenders and agents are moving fast.
📍 Market Updates by City
Click your city to explore local market trends, including pricing shifts, inventory changes, and what it means for buyers and sellers.
© 2025 Texas REALTORS® – Data used in this report come from the Texas REALTOR® Data Relevance Project, a partnership among Texas REALTORS® and local REALTOR® associations throughout the state. Analysis provided through a research agreement with the Real Estate Center at Texas A&M University.
