Jul 17, 2013

How much inventory does Dallas have?

Everyone has heard the talk about how strong the housing demand is in Dallas right now. Agents often speak in terms of how much inventory we have available. We determine this by calculating how long it would take to sell all the homes on the market if no other properties were listed for sale.
For example, if 100 homes sold in the past year and there are currently 50 homes on the market, then you have a 6 month inventory. If 100 homes sold and you have 200 on the market, you have a 2 year inventory.

In Dallas, a 6 month or less supply of homes indicates a seller's market. A 10 to 12+ month supply of homes indicates a buyer's market. Everything in between is a balanced market.

Here is a look at the inventory numbers for all properties for sale in North Texas.

Homes priced under $200,000
2.7 months of inventory

Homes priced $200,000 to $500,000
3.6 months of inventory

Homes priced $500,001 to $700,000
6.5 months of inventory

Homes priced $700,001 to $1,000,000
8.6 months of inventory

Homes priced over $1,000,000
12.4 months of inventory

All Homes in North Dallas/Park Cities ( between Central & Midway )
4 months inventory

It may seem odd that given the higher price range of homes in North Dallas that our inventory is so low. Those statistics simply mean that this area is hot and higher priced homes are more likely to sell if they are in the Park Cities or Preston Hollow.
[where: 75230]

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