Sep 5, 2014

North Dallas Real Estate Update September 2014

While the real estate market hasn't completely stabilized in North Dallas, we're seeing a gradual return to normal. The frenzied seller's market of the past few months is slowing and inventory of available homes is up just a little.

Let's take a quick look at the annual and year to date stats for all of North Dallas ( from Uptown to LBJ and I-35 to Central Expressway).

Keeping in mind that a balanced market is a 6 month supply of homes for sale, we currently have a 5 month supply of inventory. So it's still a seller's market, but not by much. The statistics vary dramatically from neighborhood to neighborhood and in different price ranges. Give me a call if you want to know your particular neighborhood.

And I really just have to share this graph with you because, in Texas, we don't normally see months where the median sales price is higher than the median asking price. But it happened in July this year in North Dallas. Multiple offers on homes were commonplace. To say it was a wild summer for buyers and their agents is an understatement.
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