Sep 5, 2012

State of the Real Estate market in North Dallas

As we head in to the 4th quarter of 2012, here is an update on the North Dallas real estate market.

This is for the area south of LBJ and north of Northwest Hwy and includes all types of properties ( single family, condos, townhomes, land).

Closed sales:
We've had 859 closed sales in the past 12 months. That is the highest number in the past 4 years. The most popular price range in the past 12 months is $250k - $500k.

We currently have a 7.9 month supply of homes for sale. That is the lowest inventory in the past 4 years. The inventory for homes over $1 million is a 11.5 month supply. While that number is higher than lower priced homes, it always is and remains the lowest inventory in the past 4 years in this price range.

Homes Available for Sale:
Here is a break down of the number of properties available for sale by price range:
below $265,000: 117 properties
$265,000 - $500,000: 130 properties
$500,000 - $950,000: 122 properties
$1 million + : 150 properties

Median Prices:
The median sales price for single family homes was $519,000 in August. That is down slightly from $524,000 in July and up a little from $513,250 in June.
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