With just a couple of weeks remaining in 2019, we will record another record year for home sales in the DFW area.  Through November, total area home sales are up 2% and median prices are up 3%, with Oak Cliff and Carrollton leading the pack, each up 11%.  Northwest Dallas (-5%), Uptown (-4%), and Plano (-4%), will end the year with sales a  bit lower than year ago.  Home sales priced in the $200’s and $300’s are carrying the load, up 9% and 10% respectively, but all price points at $200K and above are in positive territory.

And why not? The economy and job creation could hardly be better.  Inflation is just 1.8%, unemployment just 3.7%, interest rates also 3.7% and not going anywhere, the labor participation rate at a high of 63%, and consumer confidence at 96 on a 100 point scale–we should be selling more homes!  Full employment has historically been defined as an unemployment rate of 6%.

Never in our history have we had a full employment recession.  Robert Shiller, of the respected Case-Shiller report often quoted in the business press, says “a recession is likely–years from now”.  So we’ll not spend time worrying about that.  We are in a very solid economy, and with 5.56 million homes estimated to sell nationally in 2020, we will have the 4th best real estate market ever.

In Texas, 560,000 people moved here in 2018, or 1545 ever day.  Of this total, 86,000 arrived from California. Most of Texas’ newcomers are moving for jobs, and the employment base has grown by more than 300,000 jobs in the last year.  DFW is the top job growth market in the country, accounting for 140,000 of the 560,000 new arrivals.

The exceptional economic news for Texas and the Dallas area should continue to stimulate demand for housing.  The long term looks good.  Now is a great time to be a homeowner!

Here are the details:  DOM stands for “days on market”.

Overall Market (North Texas):

Nov 19 vs 18: Sales up 2%, median price up 4%, DOM 54 unchanged.

YTD 19 vs 18: Sales up 2%, median price up 3%, DOM 51 up 13%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):

Nov 19 vs 18: Sales up 12%, median price down 5%, DOM 63,
up 13%.

YTD 19 vs 18: Sales down 4%, median price down 2%, DOM 65, up 20%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:

Nov 19 vs 18: Sales up 13%, median price down 11%, DOM 77, up 26%.

YTD 19 vs 18: Sales down 1%, median price up 4%, DOM 77, up 15%.
East Dallas (incl M’s and Lakewood):

Nov 19 vs 18: Sales down 3%, median price down 12%, DOM 56, up 14%.

YTD 19 vs 18: Sales up 1%, median price down 2%, DOM 48, up 26%.
North Dallas (South of LBJ):
Nov 19 vs 18: Sales down 13%, median price up 8%, DOM 70, down 33%.

YTD 19 vs 18: Sales down 1%, median price down 8%, DOM 70, down 10%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Nov 19 vs 18: Sales up 27%, median price up 2%, DOM 56, down 2%.

YTD 19 vs 18: Sales down 1%, median price unchanged, DOM 50, up 25%.
Northwest Dallas:
Nov 19 vs 18: Sales down 6%, median price up 5%, DOM 63, up 19%.

YTD 19 vs 18: Sales down 5%, median price up 2%, DOM 50, up 25%.
Northeast Dallas (incl Lake Highlands):
Nov 19 vs 18: Sales up 6%, median price up 7%, DOM 50, up 22%.

YTD 19 vs 18: Sales up 5%, median price up 1%, DOM 49, up 23%.
Plano:
Nov 19 vs 18: Sales up 2%, median price unchanged, DOM 55, down 7%.

YTD 19 vs 18:  Sales down 4%, median price down 1%, DOM 46, up 18%.
Frisco:

Nov 19 vs 18: Sales down 2%, median price up 1%, DOM 72, down 6%.

YTD 19 vs 18: Sales down 1%, median price up 2%, DOM 62, up 7%.
Richardson:

Nov 19 vs 18: Sales up 5%, median price down 3%, DOM 48, up 37%.

YTD 19 vs 18: Sales up 6%, median price up 3%, DOM 38, up 36%.
Southlake:

Nov 19 vs 18: Sales down 3%, median price up 7%, DOM 62, down 13%.

YTD 19 vs 18: Sales down 4%, median price up 1%, DOM 53, down 2%.
Coppell:

Nov 19 vs 18: Sales up 31%, median price up 5%, DOM 73, down 5%.

YTD 19 vs 18: Sales up 5%, median price down 1%, DOM 41, down 9%.
Allen:
Nov 19 vs 18: Sales down 51%, median price up 7%, DOM 57, down 10%.

YTD 19 vs 18: Sales up 9%,  median price up 4%, DOM 52, up 30%.
Rockwall (incl Heath):

Nov 19 vs 18: Sales down 1%, median price down 1%, DOM 65, unchanged.

YTD 19 vs 18: Sales up 4%, median up 1%, DOM 62, up 17%.
Cedar Hill:
Nov 19 vs 18: Sales down 17%, median price up 19%, DOM 64, up 68%.

YTD 19 vs 18: Sales unchanged, median price up 7%, DOM 38, up 31%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
Nov 19 vs 18: Sales up 6%, median price up 10%, DOM 60, up 40%

YTD 19 vs 18: Sales up 11%, median price up 4%, DOM 49, up 17%.

Carrollton/Farmers Branch:

Nov 19 vs 18: Sales up 1%, median price up 3%, DOM 46, up 21%.

YTD 19 vs 18: Sales up 11%, median price up 4%, DOM 39, up 34%.

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 2019 vs 2018:
$200-299K (35.6% of sales): up 9%, 2.1 months inventory
$300-399K (19.7% of sales): up 10%, 2.9 months inventory
$400-499K (9.2% of sales): up 6%, 3.6 months inventory
$500-599K (4.2% of sales): up 7%, 3.7 months inventory
$600-699K (2.2% of sales): up 5%, 4.6 months inventory
$700-799K (1.2% of sales): up 4%, 5.1 months inventory
$800-899K (0.8% of sales): up 3%, 5.8 months inventory
$900-999K (0.5% of sales): up 20%, 6.5 months inventory
$1MM and up (1.7% of sales): up 1%, 8.4 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2019 vs 2018.
$200-299K (28.3% of sales): 1628 units vs 1572 units year ago, 3.2 months inventory
$300-399K (19.3% of sales): 1110 units vs 1077 units year ago, 5.1 months inventory
$400-499K (7.2% of sales): 413 units vs 480 units year ago, 7.2 months inventory
$500-599K (3.4% of sales): 194 units vs 208 units year ago, 6.5 months inventory
$600-699K (1.5% of sales): 86 units vs 96 units year ago, 7.7 months inventory
$700-799K (0.4% of sales): 25 units vs 39 units year ago, 18.0 months inventory
$800-899K (0.3% of sales): 16 units vs 26 units year ago, 13.1 months inventory
$900-999K (0.3% of sales): 20 units vs 19 units year ago, 19.9 months inventory
$1MM + (1.0% of sales): 60 units vs 64 units year ago, 18.9 months inventory

In my last report, I mused that we might see a “snappier” home sales performance in September.  Well, we did.  September surprised us with a 9% gain in overall Dallas sales and a 6% increase in median sales price.  This brought the third quarter totals to plus 2% for sales and plus 2% median sales price.  Upon further inspection however, we see that 56% of the homes sold in September were priced between $200K and $300K, and this segment registered a healthy 8% increase in sales.  This weights the results of the overall numbers significantly.  The $500 to $1M Plus segment accounted for just 11% of total Dallas area home sales, and the pace of sales was noticeably slower.

Most mortgage lenders agree that this burst in home sales was attributed to first-time home buyers who took advantage of the dip in interest rates in August to purchase.  Many sales in higher price points were not consummated, thanks to refinancing.  Conventional mortgage rates dropped to 3.5% briefly in July/August and stand today at 3.875% or so. (Still quite a bargain).

The big take-away though is in the higher end sales, $1M and up.  Here, there was no change in sales vs year ago.  Realtors selling in the $200K to $300K range were very busy, and Realtors in the high end were not busy at all.  So, when we talk about overall sales numbers for specific geographies, it’s a good idea to know how your house is valued or where you are contemplating buying for an accurate snapshot of sales activity.

A good example is Park Cities.  On the charts below, you can see that September sales were up 18%.  However, looking at sales by price point, you can see that sales of homes price at $1M and up were flat/0% change in September vs year ago. The sales surge was coming from lower priced homes, especially the $900’s, and probably in the surrounding neighborhoods of Greenway Parks, Greenway Crest, Devonshire, Briarwood, and Bluffview, labeled as “Park Cities”.

Now that the last of our 115 days of 90+ temperatures ended Oct 10th (we hope), the classic Dallas fall should usher in more activity in the higher price points.

Here are the details:  DOM stands for “days on market”.

Overall Market (North Texas):

Sep 19 vs 18: Sales up 9%, median price up 6%, DOM 45 up 16%.

YTD 19 vs 18: Sales up 2%, median price up 2%, DOM 51 up 16%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):

Sep 19 vs 18: Sales up 40%, median price up 11%, DOM 62,
up 44%.

YTD 19 vs 18: Sales down 9%, median price down 3%, DOM 62, up 15%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:

Sep 19 vs 18: Sales up 18%, median price down 8%, DOM 89, down 10%.

YTD 19 vs 18: Sales down 5%, median price up 7%, DOM 75, up 15%.
East Dallas (incl M’s and Lakewood):

Sep 19 vs 18: Sales up 17%, median price up 10%, DOM 50, up 28%.

YTD 19 vs 18: Sales unchanged, median price down 2%, DOM 48, up 30%.
North Dallas (South of LBJ):
Sep 19 vs 18: Sales down 5%, median price down 7%, DOM 80, up 14%.

YTD 19 vs 18: Sales down 5%, median price down 10%, DOM 69, down 10%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Sep 19 vs 18: Sales up 39%, median price up 5%, DOM 51, up 11%.

YTD 19 vs 18: Sales down 2%, median price unchanged, DOM 48, up 26%.
Northwest Dallas:
Sep 19 vs 18: Sales up 51%, median price unchanged, DOM 42, down 16%.

YTD 19 vs 18: Sales down 1%, median price up 1%, DOM 50, up 28%.
Northeast Dallas (incl Lake Highlands):
Sep 19 vs 18: Sales up 30%, median price down 3%, DOM 51, up 11%.

YTD 19 vs 18: Sales up 5%, median price unchanged, DOM 48, up 23%.
Plano:
Sep 19 vs 18: Sales down 9%, median unchanged, DOM 50, up 11%.

YTD 19 vs 18:  Sales down 6%, median price unchanged, DOM 45, up 25%.
Frisco:

Sep 19 vs 18: Sales up 24%, median price down 3%, DOM 59, down 6%.

YTD 19 vs 18: Sales down 1%, median price up 2%, DOM 62, up 13%.
Richardson:

Sep 19 vs 18: Sales up 28%, median price up 7%, DOM 45, up 67%.

YTD 19 vs 18: Sales up 7%, median price up 3%, DOM 37, up 37%.
Southlake:

Sep 19 vs 18: Sales down 5%, median price down 18%, DOM 79, up 1%.

YTD 19 vs 18: Sales down 5%, median price up 1%, DOM 53, unchanged.
Coppell:

Sep 19 vs 18: Sales up 2%, median price up 3%, DOM 42, down 33%.

YTD 19 vs 18: Sales up 3%, median price down 3%, DOM 38, down 10%.
Allen:
Sep 19 vs 18: Sales up 49%, median price down 9%, DOM 54, up 46%.

YTD 19 vs 18: Sales up 15%,  median price up 5%, DOM 52, up 49%.
Rockwall (incl Heath):

Sep 19 vs 18: Sales up 35%, median price up 1%, DOM 61, up 9%.

YTD 19 vs 18: Sales up 4%, median up 2%, DOM 61, up 20%.
Cedar Hill:
Sep 19 vs 17: Sales up 38%, median price unchanged, DOM 29, up 16%.

YTD 19 vs 18: Sales up 1%, median price up 6%, DOM 38, up 27%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
Sep 19 vs 18: Sales up 17%, median price down 5%, DOM 43, up 43%.

YTD 19 vs 18: Sales up 11%, median price up 3%, DOM 48, up 12%.

Carrollton/Farmers Branch:

Sep 19 vs 18: Sales down 14%, median price down 3%, DOM 35, up 3%.

YTD 19 vs 18: Sales up 11%, median price up 3%, DOM 38, up 36%.

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 2019 vs 2018:
$200-299K (35.5% of sales): up 7%, 2.1 months inventory
$300-399K (19.7% of sales): up 8%, 3.2 months inventory
$400-499K (9.2% of sales): up 4%, 4.0 months inventory
$500-599K (4.2% of sales): up 4%, 4.3 months inventory
$600-699K (2.3% of sales): up 5%, 5.5 months inventory
$700-799K (1.2% of sales): up 2%, 5.7 months inventory
$800-899K (0.8% of sales): up 4%, 6.8 months inventory
$900-999K (0.5% of sales): up 18%, 7.8 months inventory
$1MM and up (1.7% of sales): unchanged, 9.9 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2019 vs 2018.
$200-299K (28.1% of sales): 1346 units vs 1327 units year ago, 3.6 months inventory
$300-399K (19.2% of sales): 917 units vs 917 units year ago, 5.6 months inventory
$400-499K (7.4% of sales): 352 units vs 400 units year ago, 7.8 months inventory
$500-599K (3.6% of sales): 171 units vs 182 units year ago, 6.3 months inventory
$600-699K (1.6% of sales): 78 units vs 68 units year ago, 6.6 months inventory
$700-799K (0.4% of sales): 21 units vs 71 units year ago, 14.6 months inventory
$800-899K (0.3% of sales): 14 units vs 23 units year ago, 10.3 months inventory
$900-999K (0.4% of sales): 17 units vs 15 units year ago, 11.1 months inventory
$1MM + (0.9% of sales): 42 units vs 56 units year ago, 21.6 months inventory
Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540

August sales of single-family home posted a nice increase of 5%, preserving the year-to-date sales in positive territory, up 1%.  Sales of townhomes and condos were down 2% in August, with the year-to-date total down 9%.  Median sales prices of both single-family homes and townhomes/condos are both higher, up 2% for the first eight months.

As is usually the case, the largest increase in unit sales is occurring in the $200’s (+7%) and $300’s (+8%), where 55% of the Dallas area sales are. To illustrate how percentage sales in higher price points can be misinterpreted, sales in the $900’s in August were up a whopping 19%, representing a total of only 57 homes for the first eight months. Likewise, sales in the greater Park Cities area were down 32% in August, but that represented only 14 fewer homes sold than in July.

As we get deeper into the year, the cumulative sales figures (YTD) are the ones to focus on.  Here, the best performing Dallas area markets thus far are Carrollton/Farmers Branch, Allen, and Oak Cliff.  Those are moderately priced markets.  The weakest markets so far this year (at least in the 16 markets I am tracking here) are Uptown/Oak Lawn, the greater Park Cities and Plano.

Another interesting influence on our moribund sales numbers is interest rates.  Yes, the lowest rates in many months right now has been great for first time home buyers and the move up/move down market, but these rates have also encourage so many potential buyers to stay put and refinance.  Lenders are very busy (and happy) right now, and this is how low mortgage rates can take a bite out of the overall sales activity.

I can’t wait to see how September comes in.  We’re looking for a little snappier sales pace this fall.

Here are the details:  DOM stands for “days on market”.

Overall Market (North Texas):
Aug 19 vs 18: Sales up 5%, med price up 4%, DOM 46 up 7%.

YTD 19 vs 18: Sales up 1%, med price up 2%, DOM 51 up 15%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):

Aug 19 vs 18: Sales up 17%, med price down 1%, DOM 66,
up 3%.

YTD 19 vs 18: Sales down 16%, med price down 5%, DOM 62, up 15%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Aug 19 vs 18: Sales down 32%, med price up 13%, DOM 93, up 45%.

YTD 19 vs 18: Sales down 7%, med price up 8%, DOM 74, up 19%.
East Dallas (incl M’s and Lakewood):

Aug 19 vs 18: Sales up 5%, med price up 1%, DOM 42, up 20%.

YTD 19 vs 18: Sales down 2%, med price down 3%, DOM 47, up 27%.
North Dallas (South of LBJ):
Aug 19 vs 18: Sales down 19%, med price down 28%, DOM 68, down 23%.

YTD 19 vs 18: Sales down 4%, med price down 11%, DOM 67, down 13%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Aug 19 vs 18: Sales up 34%, med price down 2%, DOM 54, up 26%.

YTD 19 vs 18: Sales down 5%, med price down 1%, DOM 47, up 27%.
Northwest Dallas:
Aug 19 vs 18: Sales down 6%, med price down 1%, DOM 57, up 68%.

YTD 19 vs 18: Sales down 5%, med price up 1%, DOM 51, up 34%.
Northeast Dallas (incl Lake Highlands):
Aug 19 vs 18: Sales down 10%, med price down 3%, DOM 61, up 22%.

YTD 19 vs 18: Sales up 2%, med price unchanged, DOM 47, up 21%.
Plano:
Aug 19 vs 18: Sales down 13%, med price up 4%, DOM 46, up 24%.

YTD 19 vs 18:  Sales down 6%, med price unchanged, DOM 44, up 26%.
Frisco:

Aug 19 vs 18: Sales up 13%, med price down 3%, DOM 62, up 15%.

YTD 19 vs 18: Sales down 3%, med price up 3%, DOM 63, up 17%.
Richardson:

Aug 19 vs 18: Sales up 2%, med price up 3%, DOM 38, up 36%.

YTD 19 vs 18: Sales up 5%, med price up 3%, DOM 36, up 38%.
Southlake:

Aug 19 vs 18: Sales down 5%, med price up 3%, DOM 42, down 11%.

YTD 19 vs 18: Sales down 4%, med price up 1%, DOM 50, down %.
Coppell:

Aug 19 vs 18: Sales up 42%, med price down 11%, DOM 39, down 22%.

YTD 19 vs 18: Sales up 3%, med price down 4%, DOM 37, down 8%.
Allen:
Aug 19 vs 18: Sales up 15%, med price up 7%, DOM 40, up 18%.

YTD 19 vs 18: Sales up 12%,  med price up 6%, DOM 51, up 46%.
Rockwall (incl Heath):

Aug 19 vs 18: Sales up 15%, med price down 3%, DOM 47, down 4%.

YTD 19 vs 18: Sales up 3%, med up 2%, DOM 61, up 22%.
Cedar Hill:
Aug 19 vs 17: Sales down 21%, med price up 12%, DOM 41, up 95%.

YTD 19 vs 18: Sales down 2%, med price up 6%, DOM 38, up 27%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
Aug 19 vs 18: Sales up 15%, med price down 1%, DOM 40, down 9%.

YTD 19 vs 18: Sales up 11%, med price up 3%, DOM 48, up 9%.

Carrollton/Farmers Branch:

Aug 19 vs 18: Sales up 2%, med price unchanged, DOM 37, up 19%.

YTD 19 vs 18: Sales up 14%, med price up 4%, DOM 38, up 41%.

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 2019 vs 2018:
$200-299K (35.3% of sales): up 7%, 4.1 months inventory
$300-399K (19.8% of sales): up 8%, 3.2 months inventory
$400-499K (9.2% of sales): up 2%, 4.1 months inventory
$500-599K (4.3% of sales): up 2%, 4.5 months inventory
$600-699K (2.2% of sales): up 4%, 5.7 months inventory
$700-799K (1.2% of sales): down 1%, 6.1 months inventory
$800-899K (0.8% of sales): up 3%, 6.4 months inventory
$900-999K (0.5% of sales): up 19%, 8.0 months inventory
$1MM and up (1.7% of sales): unchanged, 9.7 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2019 vs 2018.
$200-299K (28.1% of sales): 1194 units vs 1206 units year ago, 6.6 months inventory
$300-399K (19.1% of sales): 813 units vs 798 units year ago, 5.7 months inventory
$400-499K (7.5% of sales): 319 units vs 277 units year ago, 7.6 months inventory
$500-599K (3.6% of sales): 152 units vs 165 units year ago, 7.4 months inventory
$600-699K (1.6% of sales): 66 units vs 66 units year ago, 7.9 months inventory
$700-799K (0.4% of sales): 19 units vs 28 units year ago, 12.3 months inventory
$800-899K (0.3% of sales): 13 units vs 22 units year ago, 12.3 months inventory
$900-999K (0.3% of sales): 14 units vs 14 units year ago, 10.3 months inventory
$1MM + (0.9% of sales): 37 units vs 50 units year ago, 21.8 months inventory
Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540

Dallas single-family home sales in July rebounded, up 7%, supported by the lower cost, more affordable end of the market.  Median sales prices were up 3% overall.  July’s sales performance put us 1% ahead of last year’s seven month total.  Single family homes priced in the $200’s and $300’s account for 55% of all Dallas homes sold, and those sales were up 6% and 7% respectively.  Year to date, Carrollton/Farmers Branch is the best performing market I track, with sales up 17%.  Following closely behind is Allen, up 12% and North Oak Cliff, up 10%. Richardson sales had a great July and are up 7% YTD.

On the flip side, the higher-end market can best be described as sluggish.  The greater Park Cities area was off 8% in July, bring its seven month total sales down to -3%.  The Uptown condo and townhome market is off 16% year-to-date, with all price points $200K and above for condos and townhomes in negative territory.   Those two market along with North Dallas also have the longest days-on-market, at 83 days, 70 days and 69 days respectively.

It’s very positive seeing the “affordable” end of the market do well.  This is where the greater number of buyers are, and it points to a continuation of our strong economy.  Our lower interest rates are leading the way.  I’m looking for the higher end to gain traction soon, but pending sales are down.  It may be September, with school back in session and vacations behind us, before we see a bump in sales there.

Overall Market (North Texas):
Jul 19 vs 18: Sales up 7%, med price up 3%, DOM 46 up 21%.

YTD 19 vs 18: Sales up 1%, med price up 2%, DOM 51 up 17%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):

Jul 19 vs 18: Sales down 3%, med price up 1%, DOM 70,
up 33%.

YTD 19 vs 18: Sales down 16%, med price down 5%, DOM 62, up 15%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Jul 19 vs 18: Sales down 8%, med price up 2%, DOM 83, up 54%.

YTD 19 vs 18: Sales down 3%, med price up 7%, DOM 69, up 11%.
East Dallas (incl M’s and Lakewood):

Jul 19 vs 18: Sales down 7%, med price down 11%, DOM 49, up 26%.

YTD 19 vs 18: Sales down 3%, med price down 4%, DOM 48, up 30%.
North Dallas (South of LBJ):
Jul 19 vs 18: Sales up 14%, med price down 15%, DOM 69, down 9%.

YTD 19 vs 18: Sales down 2%, med price down 4%, DOM 67, down 12%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Jul 19 vs 18: Sales down 7%, med price down 1%, DOM 44, up 52%.

YTD 19 vs 18: Sales down 9%, med price down 1%, DOM 46, up 28%.
Northwest Dallas:
Jul 19 vs 18: Sales down 2%, med price up 15%, DOM 58, up 76%.

YTD 19 vs 18: Sales down 5%, med price up 2%, DOM 50, up 32%.
Northeast Dallas (incl Lake Highlands):
Jul 19 vs 18: Sales up 7%, med price down 6%, DOM 43, up 16%.

YTD 19 vs 18: Sales up 5%, med price unchanged, DOM 46, up 24%.
Plano:
Jul 19 vs 18: Sales up 11%, med price up 1%, DOM 39, up 22%.

YTD 19 vs 18:  Sales down 5%, med price down 1%, DOM 44, up 26%.
Frisco:
Jul 19 vs 18: Sales up 7%, med price unchanged, DOM 54, up 15%.

YTD 19 vs 18: Sales down 6%, med price up 4%, DOM 63, up 15%.
Richardson:

Jul 19 vs 18: Sales up 43%, med price down 1%, DOM 32, up 33%.

YTD 19 vs 18: Sales up 7%, med price up 3%, DOM 36, up 38%.
Southlake:

Jul 19 vs 18: Sales unchanged, med price down 8%, DOM 61, up 13%.

YTD 19 vs 18: Sales down 4%, med price up 1%, DOM 52, up 2%
Coppell:

Jul 19 vs 18: Sales unchanged, med price up 10%, DOM 33, down 6%.

YTD 19 vs 18: Sales down 1%, med price down 3%, DOM 37, down 3%.
Allen:
Jul 19 vs 18: Sales up 16%, med price up 6%, DOM 47, up 34%.

YTD 19 vs 18: Sales up 12%,  med price up 7%, DOM 53, up 51%.
Rockwall (incl Heath):

Jul 19 vs 18: Sales up 3%, med price unchanged, DOM 29, up 38%.

YTD 19 vs 18: Sales up 1%, med up 2%, DOM 64, up 25%.
Cedar Hill:
Jul 19 vs 17: Sales down 10%, med price up 9%, DOM 42, up 40%.

YTD 19 vs 18: Sales up 1%, med price up 5%, DOM 38, up 19%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
Jul 19 vs 18: Sales up 39%, med price up 14%, DOM 46, up 15%.

YTD 19 vs 18: Sales up 10%, med price up 5%, DOM 49, up 11%.

Carrollton/Farmers Branch:

Jul 19 vs 18: Sales up 18%, med price up 5%, DOM 31, up 35%.

YTD 19 vs 18: Sales up 17%, med price up 5%, DOM 38, up 41%.

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 2019 vs 2018:
$200-299K (35.1% of sales): up 6%, 2.3 months inventory
$300-399K (19.7% of sales): up 7%, 3.4 months inventory
$400-499K (9.2% of sales): up 2%, 4.4 months inventory
$500-599K (4.3% of sales): up 2%, 4.8 months inventory
$600-699K (2.3% of sales): up 7%, 5.9 months inventory
$700-799K (1.2% of sales): down 2%, 6.4 months inventory
$800-899K (0.8% of sales): down 1%, 7.4 months inventory
$900-999K (0.5% of sales): up 16%, 8.6 months inventory
$1MM and up (1.7% of sales): unchanged, 10.4 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2019 vs 2018.
$200-299K (28.1% of sales): 1023 units vs 1048 units year ago, 3.3 months inventory
$300-399K (19.2% of sales): 702 units vs 723 units year ago, 5.1 months inventory
$400-499K (7.6%of sales): 276 units vs 317 units year ago, 5.9 months inventory
$500-599K (3.5% of sales): 129 units vs 153 units year ago, 7.4 months inventory
$600-699K (1.6% of sales): 58 units vs 59 units year ago, 8.7 months inventory
$700-799K (0.4% of sales): 16 units vs 23 units year ago, 16.2 months inventory
$800-899K (0.3% of sales): 12 units vs 17 units year ago, 9.3 months inventory
$900-999K (0.4% of sales): 13 units vs 13 units year ago, 9.7 months inventory
$1MM + (0.9% of sales): 33 units vs 46 units year ago, 21.6 months inventory
Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540

Is everyone on vacation? Welcome to the middle of July, which has been gaining a reputation to rival that of January–not in climate but in sales performance.  You might recall that July of 2018 marked the turn in the seven year Seller’s market. The double digit increases in annual median sales price and sales became a thing of the past.  Prices continued to rise but at a 1-2% annual rate, system wide.  July 2018 sales were very soft, to be polite about it.  While this July’s business is still underway, many in the market say it feels a lot like last year.  Buyers are on vacation, Realtors are on vacation and many corporate relocation activities are paused until September.

Looking at confirmed sales activity, note that June overall sales were down 5% following a strong showing in May (up 6%), April (up 5%) and March (up 1%).  The Spring Market.  June saw a wide disparity in sales among the submarkets in this report, with two markets, Cedar Hill and Oak Cliff, up double-digits and six markets, East Dallas, Uptown, Lake Highlands, Coppell, Rockwall and Southlake down double-digits.  Through the first half of the year, four markets are tracking ahead of last year’s pace, Cedar Hill, Oak Cliff, Richardson and Allen.  Leading the pack in terms of median sales price gains for the first half of the year is Park Cities, up 9%.  Trailing is Uptown, down 6%.

Sales by price range for single family homes shows homes priced in the $700’s and $800’s experiencing softness for the first six months.  Condo and townhome sales during this same period priced in the $600’s, $700’s and $800’s are trailing year ago totals.

Dallas and Texas economies remain very positive.  With a new record low unemployment rate reported for the state this weekend, I’ll be looking for those new hires to start creating their real estate portfolio’s!

As Will Rogers once said, “Don’t wait to buy a house; buy a house and wait”.

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

Overall Market (North Texas):
May 19 vs 18: Sales up 6%, med price up 3%, DOM 47 up 18%.

Jun 19 vs 18: Sales down 5%, med price up 2%, DOM 45 up 18%.

YTD 19 vs 18: Sales down 1%, med price up 2%, DOM 52 up 16%.
Uptown, Downtown and Turtle Creek (Condos and Townhomes):

May 19 vs 18: Sales down 2%, med price down 6%, DOM 64,
up 49%.

Jun 19, vs 18: Sales down 28%, med price up 8%, DOM 44, down 2%.

YTD 19 vs 18: Sales down 18%, med price down 6%, DOM 60, up 9%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
May 19 vs 18: Sales unchanged, med price up 4%, DOM 58, down 18%.

Jun 19 vs 18: Sales up 8%, med price up 13%, DOM 71, up 11%.

YTD 19 vs 18: Sales down 2%, med price up 9%, DOM 67, up 6%.
East Dallas (incl M’s and Lakewood):

May 19 vs 18: Sales up 17%, med price up 1%, DOM 43, up 35%.

Jun 19 vs 18: Sales down 19%, med price down 1%, DOM 54, up 69%.

YTD 19 vs 18:: Sales down 2%, med price down 1%, DOM 48, up 30%.
North Dallas (South of LBJ):
May 19 vs 18: Sales unchanged, med price down 15%, DOM 61, down 5%.

Jun 19 vs 18: Sales down 4%, med price down 5%, DOM 65, up 16%.

YTD 19 vs 18: Sales down 4%, med price down 3%, DOM 67, down 12%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
May 19 vs 18: Sales up 5%, med price down 6%, DOM 42, up 62%.

Jun 19 vs 18: Sales down 1%, med price up 4%, DOM 43, up 30%.

YTD 19 vs 18: Sales down 10%, med price unchanged, DOM 46, up 21%.
Northwest Dallas:
May 19 vs 18: Sales up 3%, med price up 17%, DOM 53, up 66%.

Jun 19 vs 18: Sales up 2%, med price down 8%, DOM 38 up 3%.

YTD 19 vs 18: Sales down 6%, med price down 1%, DOM 49, up 26%.
Northeast Dallas (incl Lake Highlands):
May 19 vs 18: Sales unchanged, med price up 7%, DOM 56, up 107%.

Jun 19 vs 18; Sales down 10%, med price up 6%, DOM 31, down 14%.

YTD 19 vs 18: Sales down 5%, med price up 1%, DOM 46, up 24%.
Plano:
May 19 vs 18: Sales up 1%, med price unchanged, DOM 38, up 46%.

Jun 19 vs 18: Sales down 7%, med price down 4%, DOM 34, up 13%.

YTD 19 vs 18:  Sales down 7%, med price down 1%, DOM 45, up 25%.
Frisco:
May 19 vs 18: Sales up 4%, med price up 3%, DOM 54, up 13%.

Jun 19 vs 18: Sales down 3%, med price up 5%, DOM 50, up 9%,

YTD 19 vs 18: Sales down 8%, med price up 5%, DOM 65, up 16%.
Richardson:

May 19 vs 18: Sales up 8%, med unchanged, DOM 35, up 75%.

Jun 19 vs 18: Sales up 6%, med price down 3%, DOM 36, up 50%.

YTD 19 vs 18: Sales up 1%, med price up 3%, DOM 36, up 50%.
Southlake:

May 19 vs 18: Sales down 8%, med price up 6%, DOM 65, 124%.

Jun 19 vs 18: Sales down 16%, med price up 3%, DOM 33, down 30%.

YTD 19 vs 18: Sales down 4%, med price up 4%, DOM 49, down 4%.
Coppell:

May 19 vs 18: Sales up 13%, med price down 9%, DOM 25, up 4%.

Jun 19 vs 18: Sales down 26%, med price up 5%, DOM 34, up 13%.

YTD 19 vs 18: Sales down 1%, med price down 5%, DOM 38, down 3%.
Allen:
May 19 vs 18: Sales up 26%, med price up 8%, DOM 50, up 61%.

Jun 19 vs 18: Sales up 9%, med price up 9%, DOM 49, up 81%.

YTD 19 vs 18: Sales up 11%,  med price up 7%, DOM 54, up 50%.
Rockwall (incl Heath):

May 19 vs 18: Sales up 14%, med price up 5%, DOM 61, up 27%.

Jun 19 vs 18:  Sales down 12%, med price down 2%, DOM 55, up 12.

YTD 19 vs 18: Sales unchanged, med up 2%, DOM 67, up 31%.
Cedar Hill:
May 19 vs 17: Sales up 16%, med price down 2%, DOM 32, up 45%.

Jun 19 vs 18:  Sales up 10%, med price up 9%, DOM 24, unchanged.

YTD 19 vs 18: Sales up 4%, med price up 4%, DOM 37, up 12%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
May 19 vs 18: Sales up 22%, med price up 6%, DOM 53, up 26%.

Jun 19 vs 18:  Sales up 10%, med price up 6%, DOM 44, up 16%.

YTD 19 vs 18: Sales up 6%, med price up 2%, DOM 50, up 11%.
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 2019 vs 2018:
$200-299K (35.0% of sales): up 6%, 2.5 months inventory
$300-399K (19.4% of sales): up 5%, 3.6 months inventory
$400-499K (9.1% of sales): up 1%, 4.7 months inventory
$500-599K (4.2% of sales): unchanged, 5.3 months inventory
$600-699K (2.2% of sales): up 3%, 6.2 months inventory
$700-799K (1.2% of sales): down 4%, 7.0 months inventory
$800-899K (0.8% of sales): up 1%, 8.0 months inventory
$900-999K (0.5% of sales): up 28%, 8.8 months inventory
$1MM and up (1.7% of sales): up 1%, 11.1 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2019 vs 2018.
$200-299K (28.0% of sales): 848 units vs 867 units year ago, 3.3 months inventory
$300-399K (19.0% of sales): 576 units vs 626 units year ago, 6.2 months inventory
$400-499K (7.4% of sales): 224 units vs 287 units year ago, 7.2 months inventory
$500-599K (3.4% of sales): 104 units vs 126 units year ago, 8.8 months inventory
$600-699K (1.8% of sales): 55 units vs 46 units year ago, 7.7 months inventory
$700-799K (0.5% of sales): 14 units vs 20 units year ago, 15.4 months inventory
$800-899K (0.4% of sales): 11 units vs 14 units year ago, 7.1 months inventory
$900-999K (0.3% of sales): 9 units vs 12 units year ago, 13.3 months inventory
$1MM + (0.9% of sales): 28 units vs 44 units year ago, 23.8 months inventory
Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540