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Dallas Real Estate Update April Results


Real Estate Data from NTREIS (North Texas Real Estate Information
Systems) comes out the 8th of every month. These are MLS numbers,
supplied by Real Estate Center at Texas A&M University.

Sales for Single Family homes were down 11%, Dollar Volume down
12% and Pending Sales down 26%, which is disappointing for May…
but you can get that from the DMN – mostly general stuff.

So let’s look at some sub areas to get a better pulse on the market.
Today, we’ll look at 3 sub areas, that we all know and love!

  • North Dallas – Area 11
  • Park Cities and Vicinities – Area 25
  • Oak Lawn – Condo and Townhomes – Area 17

Dallas April Sales
North Dallas Sales
Park Cities Sales
Oak Lawn Condo Sales

North Dallas sales are down 20%, Park Cities down 9% and Oak Lawn
down a miserable 37%! That’s no surprise when all the developers,
speculators and investors were snapping up lots at a premium and way
over built. It will take a while to get through the condo -town home
inventory, one area hurting very badly. Prices need to come down in
certain locations, the supply is far exceeding the demand especially over
500K.

Park Cities is holding its own – Average Price up 18%, North Dallas down 8%,
with the sales continuing on a downward trend, prices are going to have to
adjust more to get some movement in the market. Next Pending Sales…

North Dallas Pending Sales
North Dallas Pending Sales - April
Pending Park Cities
Pending Oak Lawn

Pending sales do not speak well of what will happen in May, down 40% or more
in these areas, that hurts me to type that. The problem is active listings and the
inventory, it’s almost a years worth.

The only way to jump start sales is for sellers to lower prices especially in the
Oak Lawn Condo Conundrum, sooner rather than later – If a property has been
on the market for years, drop the price it isn’t going to get better. Only price
will sell these units. Believe me, I know,  it’s much easier said than done, no one
likes to bleed. New Homes and builders are the ones hurting –

This is lesson 101 in real estate investing, real property is not liquid like cash.
Foreclosures are posted on Fridays.

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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