BOB EDMONSON
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BOB’S DALLAS REAL ESTATE UPDATE
Dallas Home Sales Stats for March/April, 2023
Our market is doing a pretty good job combatting the evils of higher interest rates and low inventory. Overall single family sales were down 8% in April vs year ago, following a nice runup in March, when sales were 29% higher than in March ’22. Year to date, median sales prices are just 1% lower than in the first four months of last year, beating predictions from almost everyone. What continues to support the greater Dallas real estate market is demand. Lots of people are moving here, for lots of reasons. Lots of people are tired of renting. And lots of younger people are ready to get on with their lives. Dallas is in a good place economically. And the long term outlook is quite positive.
We also have a lot of people enjoying the low interest rates they locked into two and more years ago. This is a large part of our inventory problem, and it will keep a lid on the availability of homes, while at the same time providing support for prices. But we are seeing a normalization to interest rates, and that has helped ease the shock of a year ago as we get accustomed to the new reality. I think that May and the summer months will report improved year-over-year sales numbers, as last summer was when the full impact of the inflation fighting interest rates were felt.
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%.
Mar 23 vs 22: Sales up 29%, median price up 4%, DOM 39, up 44%.
Apr 23 vs 22: Sales down 8%, median price down 5%, DOM 52, up 160%.
YTD 23 vs 22: Sales down 7%, median price down 1%, DOM 59 up 136%.
Overall Condos Market (North Texas):
Feb 23 vs 22: Sales down 34%, median price up 12%, DOM 51, up 4%.
Mar 23 vs 22: Sales down 39%, median price up 8%, DOM 36, down 12%.
Apr 23 vs 22: Sales down 22%, median price down 4%, DOM 34, up 62%..
YTD 23 vs 22: Sales down 31%, median price up 2%, DOM 42, up 5%.
Overall Townhome Market (North Texas):
Feb 23 vs 22: Sales down 6%, median price up 6%, DOM 65, up 76%.
Mar 23 vs 22: Sales down 7%, median price up 5%, DOM 66, up 89%.
Apr 23 vs 22: Sales down 2%, median price up 2%, DOM 60, up 102%.
YTD 23 vs 22: Sales down 9%, median price up 4%, DOM 67, up 103%.
Single Family Home Sales Trends:
Apr 2023: 7429 houses, $195/sf avg, 97% sold to asking
Apr 2022: 8047 houses, $204/sf avg, 106% sold to asking
Apr 2021: 8708 houses, $160/sf avg, 102% sold to asking
Condo Sales Trends:
Apr 2023: 293 homes, $238/sf avg, 99% sold to asking
Apr 2022: 374 homes, $237/sf avg, 104% sold to asking
Apr 2021: 543 homes, $197/sf avg, 97% sold to asking
Townhomes Sales Trends:
Apr 2023: 306 homes sold, $222/sf avg, 98% sold to asking
Apr 2022: 313 homes sold, $221/sf avg, 105% sold to asking
Apr 2021: 359 homes sold, $188/sf avg. 101% sold to asking
Here is a look at Single Family home sales by selected Cities for April 2023 vs 2022:
Dallas: Sales 704 vs 850, Median Price $236/sf vs $244/sf, Sold vs Asking 97%
Richardson: Sales 80 vs 89, Median Price $226/sf vs $234/sf, Sold vs Asking 98%
Plano: Sales 189 vs 255, Median Price $224/sf vs $231/sf, Sold to Asking 100%
Frisco: Sales 177 vs 240, Median Price $246/vs $255/sf, Sold to Asking 99%
Highland Park: Sales 9 vs 12, Median Price $905/sf vs $610/sf, Sold to Asking 97%
University Park: Sales 11 vs 21, Median Price $623/sf vs $594/sf, Sold to Asking 98%
Southlake: Sales 32 vs 40, Median Price $322/sf vs $329/sf, Sold to Asking 99%
Colleyville: Sales 22 vs 33, Median Price $241/sf vs $267/sf, Sold to Asking 97%
Coppell: Sales 24 vs 40, Median Price $247/sf vs $244/sf, Sold to Asking 102%
Carrollton: Sales 89 vs 89, Median Price $216/sf vs $227/sf, Sold to Asking 100%
Farmers Branch: Sales 19 vs 94, Median Price $242/sf vs $244/sf, Sold to Asking 98%
Allen: Sales 93 vs 98, Median Price $223/sf vs $234/sf, Sold to Asking 100%
If you would like information for another city, call, email or text me!
Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540

Dallas Home Sales Stats for March/April, 2023
Our market is doing a pretty good job combatting the evils of higher interest rates and low inventory. Overall single family sales were down 8% in April vs year ago, following a nice runup in March, when sales were 29% higher than in March '22. Year to date, median...
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...
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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.