January 2014 North Dallas Real Estate Statistics

Expect to hear this about Dallas home sales repeatedly in 2014:

Inventory is low and prices are going up!

 

The first month of 2014 seems to be setting the trend. Here are the statistics for North Dallas, south of LBJ.

Number of Sales: 56 ( down from 59 in Jan. 2013 )
Average Price: $454,000 ( down from $494,700 )
Price per sq ft: $222 (up from $197 )
Days on Market: 103 ( up from 86 )
Homes for Sale: 284 ( down from 352 )
Pending Sales: 72 ( down from 77 )
New Listings: 109 ( down from 128 )
Months of Inventory available: 3 ( down from 4.3 )

[where: 75230]

Dallas Home Inventory continues to drop

The housing shortage in Dallas is very real in February 2014. And it looks like the buying frenzy will continue for at least several months.

The number of available properties in Dallas dropped by 26 percent in the past year.

In January 2013 there were 4,049 homes on the market, while in January 2014 there were 2,989 homes on the market. And there are not enough homes being built or existing properties coming on the market to meet the growing demand.

If you or someone you know is thinking of selling your house, give me a call. The simple economic laws of supply and demand say to sell when the demand is high. This is the market to sell a home in Dallas. [where: 75230]