While the inventory of homes for sale in North Dallas is down, demand for those homes is up.
Let's compare the statistics for the hot summer week of July 22nd through July 29th - both in 2011 and 2012.
In that one July week last year there were 1,004 home showings in zip codes 75205, 75209, 75225, 75229 and 75230. Those were scheduled showings through CSS, the service that schedules Realtor showings in the Dallas area.
These represent actual showings where a potential buyer visits the home with their agent. These are not folks wandering through open houses. Of those 1,004 showings, they could have been 1,004 people looking at one home each or they could be 502 people looking at two homes each, 251 people looking at 4 homes each, etc.
That same July week this year there were 1,385 showings in those same zip codes. Now either more people are shopping for homes or potential buyers are looking at more homes than they normally do. Based on what I am seeing and hearing out in the field, I believe there are more buyers than there were a year ago.
In July 2011 there were 1,480 properties for sale in North Dallas zip codes 75205, 75209, 75225, 75229 and 75230. July 2012 isn't finished yet, but as of today, there were 953 properties for sale in those zip codes.
So we have fewer homes for sale but more showings of homes for sale. If you were wondering if this is the time to have your house on the market - the answer is Yes!