Dallas Home Sales Stats for July, 2018

This report comes right on the heels of the June report, as I couldn’t wait to see if the Dallas area sales rebounded from it’s first year-over-year decline in years.  Overall June sales were off 3% from year-ago, but July sales did indeed rebound, up 6% vs last July.  Happy to see this!  As I postulated last month, the economic conditions locally and nationally are in great shape and should continue to support the expansion of home building and home resales, especially here.  The dip may have been the result of end-of-June business rolling into July.

The results, as always are not uniform through the area.  Cedar Hill sales were up 45%, Coppell up 35%, Park Cities and Far North Dallas up 25% and 23% respectively.  On the other hand, Lake Highlands’ sales were down 16%, Uptown sales were down 12%, and Frisco’s down 11%.

Meanwhile, overall median sales prices were up 6%, pretty consistent with recent months this year.  The Lakewood/M Streets area saw the median sales price climb 20%, Cedar Hill 14% and Richardson 12%.

Changing the subject a little…we have had some good and welcome rain this weekend, bringing some relief to the overly dry soil in our yards.  Still, be diligent about protecting your foundation by maintaining a constant moisture level around the home’s perimeter.  If you don’t have a sprinkler system, invest in a soaker hose.  And this super dry, then super wet action plays havoc with the shrinkage and expansion of the clay.  No need to worry–this is not atypical for this time of year.  Just be aware!

Here is a glimpse of the activity in the submarkets I regularly track.  DOM stands for “Days on Market”…

Overall Market (North Texas):
Jul 18 vs 17: Sales up 6%, med price up 6%, DOM 38, up 6%.
YTD 18 vs 17: Sales up 2%, med price up 6%, DOM 44, up 7%.
Uptown, Downtown and Turtle Creek (Condos and Townhomes):

Jul 18 vs 17: Sales down 12%, med price unchanged, DOM 42, down 25%.
YTD 18 vs 17: Sales up 4%, med price up 1%, DOM 53, up 6%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Jul 18 vs 17: Sales up 23%, med price up 9%, DOM 54, down 29%.
YTD 18 vs 17: Sales down 7%, med price up 5%, DOM 62, down 7%.
East Dallas (incl M’s and Lakewood):
Jul 18 vs 17: Sales up 6%, med price up 20%, DOM 37, up 9%.
YTD 18 vs 17: Sales down 6%, med price up 6%, DOM 37, up 6%
North Dallas (South of LBJ):
Jul 18 vs 17: Sales down 2%, med price up 5%, DOM 77, up 51%.
YTD 18 vs 17: Sales down 12%, med price up 8%, DOM 76, up 31%.
Far North Dallas (incl Addison and to Park Blvd in Plano):
Jul 18 vs 17: Sales up 23%, med price up 5%, DOM 29, up 7%.
YTD 18 vs 17: Sales down 3%, med price up 2%, DOM 36, down 5%.
Northwest Dallas:
Jul 18 vs 17: Sales down 2%, med price down 5%, DOM 33, down 18%.
YTD 18 vs 17: Sales down 16%, med price up 1%, DOM 38, up 3%.
Northeast Dallas (incl Lake Highlands):
Jul 18 vs 17: Sales down 16%, med price up 3%, DOM 36, up 3%.
YTD 18 vs 17: Sales down 12%, med price up 6%, DOM 36, up 13%.
Plano:
Jul 18 vs 17: Sales down 5%, med price up 2%, DOM 33, up 38%.
YTD 18 vs 17: Sales down 4%, med price up 3%, DOM 35, up 13%.
Frisco:
Jul 18 vs 17: Sales down 11%, med price up 6%, DOM 46, up 21%.
YTD 18 vs 17: Sales down 7%, med price up 2%, DOM 54, up 23%.
Richardson:

Jun 18 vs 17: Sales up 8%, med price up 19%, DOM 25, up 39%.
YTD 18 vs 17: Sales up 2%, med price up 9%, DOM 26, up 30%.
Southlake:

Jul 18 vs 17: Sales unchanged, med price up 16%, DOM 53, up 66%.
YTD 18 vs 17: Sales down 3%, med price up 6%, DOM 51, down 2%.
Coppell:

Jul 18 vs 17: Sales up 35%, med price up 12%, DOM 28, down 20%.
YTD 18 vs 17: Sales down 3%, med price up 4%, DOM 36, down 18%
Allen:
Jun 18 vs 17: Sales down 12%, med price up 1%, DOM 28, up 17%.
YTD 18 vs 17: Sales down 11%, med price down 1%, DOM 36, up 13%.
Rockwall (incl Heath):

Jun 18 vs 17: Sales up 6%, med price up 2%, DOM 48, up 20%.
YTD 18 vs 17: Sales up 2%, med price up 2%, DOM 36, down 16%.
Cedar Hill:
Jul 18 vs 17: Sales up 45%, med price up 14%, DOM 30, up 50%.
YTD 18 vs 17: Sales up 4%, med price up 12%, DOM 32, down 3%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
Jul 18 vs 17: Sales up 2%, med price down 4%, DOM 40, down 9%.
YTD 18 vs 17: Sales up 8%, med price up 12%, DOM 44, up 2%.
For Las Colinas: Call me at my Allie Beth Allman & Associates office, 214-563-8540.

Here is a look at Single Family home sales by price category for YTD 2018 vs 2017:
$200-299K (33.4% of sales): up 12%, 2.0 months inventory
$300-399K (18.5% of sales): up 10%, 3.3 months inventory
$400-499K (9.1% of sales): up 14%, 4.2 months inventory
$500-599K (4.2% of sales): up 9%, 5.0 months inventory
$600-699K (2.2% of sales): up 4%, 5.9 months inventory
$700-799K (1.3% of sales): unchanged, 6.7 months inventory
$800-899K (0.8% of sales): up 1%, 6.9 months inventory
$900-999K (0.4% of sales): up 15%, 8.8 months inventory
$1MM and up (1.7% of sales): up 6%, 9.7 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2018 vs 2017.
$200-299K (25.5% of sales): 1026 units vs 997 units year ago, 2.3 months inventory
$300-399K (17.8% of sales): 718 units vs 614 units year ago, 4.3 months inventory
$400-499K (8.2% of sales): 331 units vs 304 units year ago, 4.9 months inventory
$500-599K (3.0% of sales): 154 units vs 92 units year ago, 5.6 months inventory
$600-699K (1.4% of sales): 55 units vs 63 units year ago, 8.5 months inventory
$700-799K (0.5% of sales): 22 units vs 25 units year ago, 9.5 months inventory
$800-899K (0.4% of sales): 17 units vs 17 units year ago, 9.9 months inventory
$900-999K (0.3% of sales): 14 units vs 18 units year ago, 5.0 months inventory
$1MM + (1.1% of sales): 45 units vs 47 units year ago, 12.6 months inventory
Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540

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