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BOB’S MARKET UPDATE

BOB’S DALLAS REAL ESTATE UPDATE

Dallas Home Sales Stats for August, 2021

“August 2021 dollar volume of North Texas existing home resales had its 4th highest month in history with transaction volume of $4.72 billion. August 2021’s dollar volume was up 13% when compared to August 2020 (5% fewer transactions but 19% higher average sales price). Inventory for the entire NTREIS region remains very tight at 1.1 months supply as of 8/31/21.” – Britt Fair, President/Owner of Fair Texas Title Britt is exactly right.  August has typically been a rather moribund month, but that changed last year, following the Spring lockdowns.  Locally, people are still adjusting to lifestyle changes, especially the functionality of their homes and for some the freedom to live away from their workplace.  And they are still taking advantage of superb mortgage rates (are we spoiled yet?).  On a larger scale, companies (i.e. jobs) are relocating to Texas and especially the DFW area from states with higher costs of living and greater regulation of all kinds.  So the people who study these trends for a living are telling us to expect demand for homes to continue to outstrip supply. Still, we are detecting a little more price negotiation than what we saw earlier this year along with a few price reductions.  The days-on-market are up a smidgeon in some markets as well.  Without a shift in economic or virus policy, we should continue to see housing demand at these levels. Below are the results for a sample of submarkets I follow.  Enjoy! Overall Market (North Texas): Jul 21 vs 20: Sales down 17%, median price up 20%, DOM 19, down 60% Aug 21 vs 20: Sales down 5%, median price up 19%, DOM 19, down 56%. YTD 21 vs 20: Sales unchanged, median price up 18%, DOM 27, down 48%   Uptown, Downtown and Turtle Creek (Condos and Townhomes): Jul 21 vs 20: Sales up 47%, median price up 16%, DOM 45, down 36%. Aug 21 vs 20: Sales up 37%, median price down 8%, DOM 43, down 26%. YTD 21 vs 20: Sales up 75%, median price up 15%, DOM 61, down 12%.   Highland Park and University Park, Bluffview, Devonshire and Greenway Parks: Jul 21 vs 20: Sales down 16%, median price up 10%, DOM 23, down 64%. Aug 21 vs 20: Sales down 26%, median price up 16%, DOM 37, down 52%. YTD 21 vs 20:Sales up 15%, median price up 25%, DOM 51, down 26%.   East Dallas (incl M’s and Lakewood): Jul 21 vs 20: Sales down 11%, median price up 9%, DOM 21, down 52%. Aug 21 vs 20: Sales down 7%, median price up 4%, DOM 22, down 42%. YTD 21 vs 20: Sales up 11%, median price up 11%, DOM 27, down 44%   North Dallas (South of LBJ): Jul 21 vs 20: Sales down 40%, median price up 13%, DOM 20, down 17%. Aug 21 vs 20: Sales down 9%, median price down 7%, DOM 20, down 72%. YTD 21 vs 20: Sales up 30%, median price up 16%, DOM 56, down 33%.   Far North Dallas (incl Addison and to Park Blvd in Plano): Jul 21 vs 20: Sales down 16%, median price up 8%, DOM 20, down 38%. Aug 21 vs 20: Sales up 2%, median price up 20%, DOM 17, down 58%. YTD 21 vs 20: Sales up 22%, median price up 15%, DOM 26, down 48%.   Northwest Dallas (incl Midway Hollow): Jul 21 vs 20: Sales down 9%, median price up 22%, DOM 21, down 50%. Aug 21 vs 20: Sales down 3%, median price up 15%, DOM 17, down 59%. YTD 21 vs 20: Sales up 23%, median price up 14%, DOM 30, down 40%.   Northeast Dallas (incl Lake Highlands): Jul 21 vs 20: Sales down 25%, median price up 14%, DOM 17, down 51%. Aug 21 vs 20: Sales up 5%, median price up 26%, DOM 23, down 44%. YTD 21 vs 20: Sales up 2%, median price up 18%, DOM 30, down 36%.   Plano: Jul 21 vs 20: Sales down 5%, median price up 20%, DOM 15, down 56%. Aug 21 vs 20: Sales down 5%, median price up 18%, DOM 14, down 64%. YTD 21 vs 20: Sales up 6%, median price up 19%, DOM 19, down 56%.   Frisco: Jul 21 vs 20: Sales down 19%, median price up 25%, DOM 16, down 73%. Aug 21 vs 20: Sales down 8%, median price up 32%, DOM 16, down 58%. YTD 21 vs 20: Sales down 1%, median price up 26%, DOM 19, down 53%.   Richardson: Jul 21 vs 20: Sales down 26%, median price up 20%, DOM 16, down 38% Aug 21 vs 20: Sales up 2%, median price up 23%, DOM 18, down 54%. YTD 21 vs 20: Sales down 3%, median price up 16%, DOM 22, down 39%   Southlake: Jul 21 vs 20: Sales down 22%, median price up 40%, DOM 14, down 63%. Aug 21 vs 20: Sales down 6%, median price up 35%, DOM 18, down 49%. YTD 21 vs 20: Sales up 3%, median price up 32%, DOM 24, down 51%.   Coppell: Jul 21 vs 20: Sales down 23%, median up 17%, DOM 12, down 61%. Aug 21 vs 20: Sales up 15%, median price up 31%, DOM 19, down 24%. YTD 21 vs 20: Sales up 11%, median price up 17%, DOM 22, down 42%.   Allen: Jul 21 vs 20: Sales down 21%, median price up 21%, DOM 11, down 71%. Aug 21 vs 20: Sales up 4%, median price up 24%, DOM 14, down 64%. YTD 21 vs 20: Sales down 1%, median price up 20%, DOM 16, down 64%.   Rockwall (incl Heath): Jul 21 vs 20: Sales down 29%, median price up 19%, DOM 22, down 65%. Aug 21 vs 20: Sales down 23%, median price up 22%, DOM 17, down 67%. YTD 21 vs 20: Sales down 7%, median price up 17%, DOM 27, down 58%.   Cedar Hill: Jul 21 vs 20: Sales down 7%, median price up 17%, DOM 17, down 65%. Aug 21 vs 20: Sales up 2%, median price up 24%, DOM 17, down 53%. YTD 21 vs 20: Sales up 3%, median price up 17%, DOM 25, down 48%.   North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights): Jul 21 vs 20: Sales down 12%, median price up 19%, DOM 25, down 52%. Aug 21 vs 20: Sales down 21%, median price up 11%, DOM 22, down 65%. YTD 21 vs 20: Sales up 5%, median price up 24%, DOM 34, down 37%.   Carrollton/Farmers Branch: Jul 21 vs 20: Sales down 9%, median price up 14%, DOM 18, down 31%. Aug 21 vs 20: Sales down 8%, median price up 15%, DOM 15, down 44%. YTD 21 vs 20: Sales up 5%, median price up 14%, DOM 18, down 47%.   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 2021 vs 2020: $200-299K (28.7% of sales): down 17%, 0.7 months inventory $300-399K (24.1% of sales): up 12%, 1.0 months inventory $400-499K (14.0% of sales): up 7%, 1.0 months inventory $500-599K (7.3% of sales): up 52%, 1.4 months inventory $600-699K (4.4% of sales): up 77%, 1.4 months inventory $700-799K (2.6% of sales): up 83%, 1.5 months inventory $800-899K (1.6% of sales): up 86%, 1.8 months inventory $900-999K (1.0% of sales): up 86%, 1.8 months inventory $1MM and up (3.6% of sales): up 104%, 2.4 months inventory   Here is a look at Condos and Townhomes sales by price category for YTD 2021 vs 2020. $200-299K (25.9% of sales): 1574 units vs 1183 units year ago, 1.2 months inventory $300-399K (23.3% of sales): 1417 units vs 859 units year ago, 1.6 months inventory $400-499K (12.2% of sales): 740 units vs 338 units year ago, 2.0 months inventory $500-599K (5.4% of sales): 328 units vs 143 units year ago, 1.7 months inventory $600-699K (2.0% of sales): 114 units vs 51 units year ago, 2.9 months inventory $700-799K (1.1% of sales): 66 units vs 26 units year ago, 2.9 months inventory $800-899K (0.6% of sales): 38 units vs 16 units year ago, 4.0 months inventory $900-999K (0.4% of sales): 29 units vs 8 unit year ago, 5.0 months inventory $1MM + (1.7% of sales): 106 units vs 37 units year ago, 6.7 months inventory    
PREVIOUS MONTHLY UPDATES

Dallas Home Sales Stats for August, 2021

“August 2021 dollar volume of North Texas existing home resales had its 4th highest month in history with transaction volume of $4.72 billion. August 2021’s dollar volume was up 13% when compared to August 2020 (5% fewer transactions but 19% higher average sales...

Dallas Home Sales Stats for July, 2021

Demand for homes remained exceptionally strong in the Dallas area in July, with that demand encompassing all forms of housing--single family homes, townhomes, condos, and rental homes.  The important metic here was not the sales numbers, which showed a year-over-year...

Dallas Home Sales Stats for June, 2021

Overall Dallas June sales were DOWN 3%, after three months of 20%+ year-over-year sales gains, which smashed a few records along the way. But you and I knew that was coming, because 1) those kind of sales gains are unsustainable, and 2) we are comparing this June to...

Dallas Home Sales Stats for May, 2021

May homes sales are in, and it's close to a carbon copy of last month's spectacular performance.  Overall Dallas sales were up 27% with a median sales price 26% higher than a year ago.  Homes are selling so quickly, it gives the appearance of a low inventory...

Dallas Home Sales Stats for March/April 2021

Have you been to a silent auction lately?   If you are in the market to buy a home, you are participating in one now.  There is one big difference though.  At your traditional holiday fund-raiser, you get to see the latest, highest posted price before the gavel...

Dallas Home Sales Stats for Jan/Feb, 2021

Another interesting start to another interesting year.  What happened to typical and predictable?  Last year in early March we thought home buyers would not find a house to buy due to the lockdown.  This year we wonder if home buyers can find a house to buy given the...

Dallas Home Sales Stats for December, 2020 and Year End

Where to begin.  Packed with elections outcome uncertainty, long awaited but on-schedule vaccine approval and delivery, holiday planning, shopping, decorating and travel, there were just a few distraction to the usual routine.  Despite all the goings-on, North Texans...

Dallas Home Sales Stats for November, 2020

November home sales for the greater Dallas area just clocked in with yet another amazing month of results--sales of single family homes up 23% and median sales prices up 13% vs year ago November.  Sales of condos and townhomes were also 27% higher with median sales...

Dallas Home Sales Stats for October, 2020

Historically low interest rates, still at or near 2 5/8% for a conventional loan and with good credit, is driving the bus towards a record year in Dallas area home sales.  These remarkable rates produced another double-digit increase in single-family home sales, this...

Dallas Home Sales Stats for September, 2020

September sales of single-family homes in the Dallas area were up 27% from year ago, a new record. This was the fourth consecutive months of double-digit increases in unit sales.  We have never seen a September like this, but then again, we have never seen such...

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BOB’S CLIENTS

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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Thank you so much for helping my parents find a new home in Dallas. I am so grateful to you for your patience and willingness to explore a wider area for my family

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You are such a kind, professional, super Realtor. You went above & beyond for us & we are grateful for your expertise & your patience.

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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.

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