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Dallas Real Estate Update and Opportunities in the Market

Dallas Market stats come out the 8th of every month from the MLS,
NTREIS (North Texas Real Estate Information Systems) and complied
by the Real Estate Center (TX A&M).

June is really no different than the past few months.
Given the state of the economy and inflation.

Overall, Dallas single family home sales were down 20%.
Average price of $213,314 only down 1%.

Condo – Town Home sales were down 30%.
Average price of $180,958 up 9%.

What’s disturbing are the pending sales because they are always
a barometer of future sales. Pending sales for single family homes
were down 33% for June and condo – town homes were down 32%.
New listings were down 20% and active listings down 10%. So, overall
the inventory is not out of control in Dallas total.

Where the opportunities lie are in the areas we deal with here, respectively,
Far North Dallas, North Dallas, Park Cities and Uptown-Oak Lawn.

Here’s the run down for June…

Far North Dallas: Sales down 20% – Avg Price up 6% – Pending Sales
down 58% (no typo) Months Inventory up 26% – Price per sq ft. $129.

North Dallas: Sales down 19% – Avg Price down 15% – Pending Sales 51%
(no typo) Months Inventory up 51% (12.6 month supply) –
Price per sq ft $226. (down 7%) BEST OPPORTUNITIES ARE HERE*****

Park Cities: Sales down 15% – Avg Price up 1% – Pending sales down 18%
Months Inventory up 77% (YEP!) 11.1 months supply – Price per sq ft. $346.

Uptown/Oak Lawn Condos & Town Homes: Sales down 14% –
Avg Price up 3% – Pending Sales down 48% – Months Inventory up 49% –
12.6 months supply. Price per sq ft $183.

So there you have it, prices still seem to be holding because of value
perceived. Prices do vary depending on individual seller circumstances…
***** is my real estate opinion from buying and selling in theses area.

About Terry W. Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite & know stuff, ask me...


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