BOB EDMONSON
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BOB’S MARKET UPDATE
BOB’S DALLAS REAL ESTATE UPDATE
Dallas Home Sales Stats for February, 2023
Ready for some good news? Dallas area home sales were UP in February. After eleven consecutive months of lower sales, mostly double-digit declines, we managed to squeeze out a 1% increase vs year ago February. It is an achievement not every major city in the country can point to. In fact, sales in Houston were down 23% last month. The DFW economy, along with the five month slide in mortgage rates, can take credit for this welcome news. My Allie Beth Allman & Assoc office had its best February in history. So this is a good sign, but it doesn’t mean we are out of the woods yet. Earlier in this month of March, interest rates for the 30-year conventional loans breached the 7% ceiling again, although 20-year and 15-year loans, jumbo rates (loans in excess of $726K) and VA and FHA rates are still available in the 5’s and 6’s at this time.
Not every market saw sales increases or higher median prices than a year ago, although the sold-to-ask ratios improved in most areas. Of the twelve cities singled out below, only Dallas, Coppell and Farmers Branch had lower sales of single family homes than year ago February. Despite the shortfall in Dallas, we still saw a positive February. Median sales prices tended to be lower than a year ago in 7 of the 12 cities on the list below, but not all, another encouraging sign. The Fed is still fighting inflation, and good job creation numbers like those we have been seeing (always good news), tend to work against our goal of lower interest rates as the Fed would like to cool the economy with higher rates. Hopefully we can get back to the days of both a strong economy and low inflation (rates) which we had a short time ago.
Check out last month’s performance in selected sub markets in the list below. Only sales transacted through the MLS are recorded, so sales are always understated to a small extent.
Overall Single Family Market (North Texas):
Feb 23 vs 22: Sales up 1%, median price up 1%, DOM 40, up 48%.
Jan 23 vs 22: Sales down 27%, median price up 4%, DOM 40, up 54%.
Dec 22 vs 21: Sales down 30%, median price up 10%, DOM 44, up 76%.
YTD 23 vs 22: Sales down 12%, median price up 3%, DOM 61 up 118%.
Overall Condos Market (North Texas):
Feb 23 vs 22: Sales down 34%, median price up 12%, DOM 51, up 4%
Jan 23 vs 22: Sales down 38%, median price down 8%, DOM 49, down 8%.
Dec 22 vs 21: Sales down 49%, median price down 2%, DOM 40, down 13%..
YTD 23 vs 22: Sales down 36%, median price down 1%, DOM 50, down 2%.
Overall Townhome Market (North Texas):
Feb 23 vs 22: Sales down 6%, median price up 6%, DOM 65, up 76%.
Jan 23 vs 22: Sales down 30%, median price up 8%, DOM 86, up 146%.
Dec 22 vs 21: Sales down 16%, median price up 17%, DOM 57, up 68%.
YTD 23 vs 22: Sales down 16%, median price up 8%, DOM 73, up 103%.
Single Family Home Sales Trends:
Feb 2023: 6247 houses, $189/sf avg, 94% sold to asking
Feb 2022: 6177 houses, $188/sf avg, 103% sold to asking
Fed 2021: 6056 houses, $151/sf avg, 99% sold to asking
Condo Sales Trends:
Feb 2023: 235 homes, $236/sf avg, 96% sold to asking
Feb 2022: 358 homes, $219/sf avg, 100% sold to asking
Feb 2021: 291 homes, $190/sf avg, 94% sold to asking
Townhomes Sales Trends:
Feb 2023: 226 homes sold, $223/sf avg, 96% sold to asking
Feb 2022: 240 homes sold, $209/sf avg, 103% sold to asking
Feb 2021: 270 homes sold, $172/sf avg. 98% sold to asking
Here is a look at Single Family home sales by selected Cities for January 2023 vs 2022:
Dallas: Sales 566 vs 671, Median Price $231/sf vs $225/sf, Sold vs Asking 95%
Richardson: Sales 72 vs 56, Median Price $222/sf vs $217/sf, Sold vs Asking 97%
Plano: Sales 166 vs 132, Median Price $210/sf vs $215/sf, Sold to Asking 96%
Frisco: Sales 168 vs 134, Median Price $234/vs $234/sf, Sold to Asking 96%
Highland Park: Sales 5 vs 9, Median Price $674/sf vs $534/sf, Sold to Asking 93%
University Park: Sales 11 vs 9, Median Price $580/sf vs $519/sf, Sold to Asking 100%
Southlake: Sales 19 vs 16, Median Price $306/sf vs $326/sf, Sold to Asking 95%
Colleyville: Sales 25 vs 19, Median Price $244/sf vs $252/sf, Sold to Asking 93%
Coppell: Sales 18 vs 23, Median Price $229/sf vs $246/sf, Sold to Asking 97%
Carrollton: Sales 78 vs 71, Median Price $210/sf vs $216/sf, Sold to Asking 96%
Farmers Branch: Sales 12 vs 25, Median Price $214/sf vs $221/sf, Sold to Asking 97%
Allen: Sales 84 vs 72, Median Price $199/sf vs $217/sf, Sold to Asking 94%
If you would like information for another city, call, email or text me!
*Highland Park and University Park to report January 15th.
Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540

Dallas Home Sales Stats for February, 2023
Ready for some good news? Dallas area home sales were UP in February. After eleven consecutive months of lower sales, mostly double-digit declines, we managed to squeeze out a 1% increase vs year ago February. It is an achievement not every major city in the...
Dallas Home Sales Stats for January, 2023
Dallas area home sales in January were 27% lower than this time last year, as mortgage rates continued to discourage potential home buyers. Mortgage rates have settled into a somewhat steady pace since mid-December, hovering around 6.5% for conventional loans (<...
Dallas Home Sales Stats for December and YTD 2022
Only two weeks have passed since my most recent report on the November data (attached), but we now can report on the full year results for 2022. Single family home sales totaled 6,246 properties in December, representing 29% fewer sales than in December 2021. ...
Dallas Home Sales Stats for November, 2022
What a year! We started the year with 3% mortgage rates and will end the year with 6% mortgage rates, a 20-year high. The doubling on rates actually occurred half way through the year, and the speed of this increase shocked our real estate industry. The Federal...
Dallas Home Sales Stats for October, 2022
Home sales continue to slow, with sales of single family homes in North Texas down 22% in October compared to October 2021. No surprise, Condos and Townhome sales were also down double digits. But...median sales prices are slipping more slowly and are still higher...
Dallas Home Sales Stats for September 2022
Dallas' median price for single-family homes continued to sell higher than last year, but still lower than in the past few months. The median price for those single-family homes was $404,000 in September, up 13% from the same period last year, but down from nearly...
Dallas Home Sales Stats for August, 2022
It's late September as I write this, and today we had another (and predicted) increase in the federal funds rate. While mortgage rates are tied more to the rate of the 10-year bond, we did see the bias toward higher mortgage rates, touching 6.29% today. These rates...
Dallas Home Sales Stats for July, 2022
Texas is one of only four states that has exceeded its pre-pandemic level of employment, the others being Arizona, Utah and Idaho. If there were just one metric you would want on your side to measure economic health, it would be this: strong employment aka Jobs. ...
Dallas Home Sales Stats for June, 2022
Dallas home sales in June continued to be softer than what we have been used to, with single family homes sales off 8% vs year ago, townhome sales off 10% and condo sales off 33%. After a two-year wild ride, we seem to be getting closer to normalcy. While there are...
Dallas Home Sales Stats for May, 2022
May saw a continued trend towards slower home sales, but not in home prices. Home prices took off in 2020 and 2021 due to strong demand in a very low inventory market and a very low mortgage interest rate market. The impact of the pandemic and the Federal Reserves...
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What Bob’s Clients Are Saying About His Stellar Service

Thank you very much for taking such good care of our faculty candidate when you showed him around Dallas. He told several of us how pleased and impressed he was with your tour, and I have passed the glowing report to other program coordinators
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BOB EDMONSON
Bob Edmonson has experienced life in other U.S. Metros, but his life has been centered here in the Big ‘D’ for over four decades.
Though he enjoys the cultural perks that come with living in a world class city, Bob finds deep satisfaction in participating in his community, volunteering on boards and working with the City of Dallas.
Serving on the Uptown Dallas Inc board, Bob promotes the Uptown area of Dallas as a wonderful place to live, work and play.