Dallas Home Sales for November, 2021

November home sales in our greater Dallas area were slightly ahead of last year, up 4%, while the median sales price held steady, up 18% vs year ago. With the average days on market continuing to run less than 30 days, it’s a sign that we are not yet releasing our grip on this sellers’ market. Where the median sales prices are higher, buyers are still able and willing to pay more for those available homes. Where median sales prices are lower, buyers are choosing to buy a less expensive house than those sold last year, likely due to fewer homes to choose from and/or a reluctance to bid higher than the asking price. In this slower holiday season, the days on market and sales numbers can tip you off on which scenario is in play in which submarket.

One important influence on sales going into 2022 will be interest rates. The Federal Reserve has indicated a desire to raise rates, perhaps as many as three times next year. While the Fed doesn’t doesn’t directly control mortgage rates, it certainly influences them. If you are contemplating a purchase next year, have a conversation with your favorite mortgage broker regarding potential impacts.

Below is a summary of sales activity for 17 sample submarkets. DOM is days on market,

Overall Market (North Texas):

Oct 21 vs 20: Sales down 9%, median price up 18%, DOM 26, down 35%

Nov 21 vs 20: Sales up 4%, median price up 18%, DOM 27, down 29%.

YTD 21 vs 20: Sales down 1%, median price up 18%, DOM 26, down 45%

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

Oct 21 vs 20: Sales up 24%, median price up 22%, DOM 41, down 34%.

Nov 21 vs 20: Sales up 24%, median price down 21%, DOM 50, down 32%.

YTD 21 vs 20: Sales up 58%, median price up 14%, DOM 57, down 16%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:

Oct 21 vs 20: Sales down 53%, median price down 4%, DOM 37, down 42%.

Nov 21 vs 20: Sales down 10%, median price down 16%, DOM 35, down 58%.

YTD 21 vs 20: Sales unchanged, median price up 20%, DOM 47, down 31%.

East Dallas (incl M’s and Lakewood)

Oct 21 vs 20: Sales down 10%, median price up 4%, DOM 27, down 27.

Nov 21 vs 20: Sales down 11%, median price up 3%, DOM 32, unchanged.

YTD 21 vs 20: Sales up 3%, median price up 10%, DOM 27, down 39%

North Dallas (South of LBJ):
Oct 21 vs 20: Sales down 27%, median price up 2%, DOM 38, down 39%.

Nov 21 vs 20: Sales down 33%, median price up 69%, DOM 57, down 3%.

YTD 21 vs 20: Sales up 13%, median price up 14%, DOM 53, down 32%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Oct 21 vs 20: Sales up 16%, median price up 28%, DOM 22, down 24%.

Nov 21 vs 20: Sales up 7%, median price up 25%, DOM 22, up 45%.

YTD 21 vs 20: Sales up 17%, median price up 18%, DOM 25, down 42%.

Northwest Dallas (incl Midway Hollow):

Oct 21 vs 20: Sales down 8%, median price up 22%, DOM 28, down 33%.

Nov 21 vs 20: Sales down 2%, median price down 10%, DOM 28, down 26%.

YTD 21 vs 20: Sales up 18%, median price up 15%, DOM 28, down 37%.

Northeast Dallas (incl Lake Highlands):
Oct 21 vs 20: Sales unchanged, median price up 11%, DOM 27, down 16%.

Nov 21 vs 20: Sales down 11%, median price up 11%, DOM 27, down 13%.

YTD 21 vs 20: Sales down 2%, median price up 18%, DOM 30, down 30%.

Plano:
Oct 21 vs 20: Sales down 11%, median price up 19%, DOM 23, down 30%.

Nov 21 vs 20: Sales up 11%, median price up 25%, DOM 20, down 38%.

YTD 21 vs 20: Sales up 2%, median price up 20%, DOM 20, down 50%.

Frisco:

Oct 21 vs 20: Sales down 18%, median price up 30%, DOM 20, down 47%.

Nov 21 vs 20: Sales down 30%, median price up 39%, DOM 19, down 47%.

YTD 21 vs 20: Sales down 8%, median price up 28%, DOM 19, down 60%.

Richardson:

Oct 21 vs 20: Sales up 7%, median price up 15%, DOM 29, unchanged.

Nov 21 vs 20: Sales unchanged, median price up 13%, DOM 22, down 31%.

YTD 21 vs 20: Sales down 2%, median price up 16%, DOM 22, down 35%

Southlake:

Oct 21 vs 20: Sales down 5%, median price up 29%, DOM 22, down 58%.

Nov 21 vs 20: Sales down 32%, median price up 22%, DOM 34, down 48%.

YTD 21 vs 20: Sales up 1%, median price up 30%, DOM 25, down 50%.

Coppell:

Oct 21 vs 20: Sales down 6%, median up 16%, DOM 24, down 33%.

Nov 21 vs 20: Sales down 2%, median price up 43%, DOM 21, down 52%.

YTD 21 vs 20: Sales up 3%, median price up 16%, DOM 21, down 45%.

Allen:
Oct 21 vs 20: Sales down 23%, median price up 17%, DOM 12, down 65%.

Nov 21 vs 20: Sales down 27%, median price up 31%, DOM 23, down 8%.

YTD 21 vs 20: Sales down 6%, median price up 15%, DOM 16, down 61%.

Rockwall (incl Heath):

Oct 21 vs 20: Sales down 11%, median price up 17%, DOM 26, down 41%.

Nov 21 vs 20: Sales up 11%, median price up 13%, DOM 28, down 26%.

YTD 21 vs 20: Sales down 5%, median price up 15%, DOM 27, down 54%.

Cedar Hill:

Oct 21 vs 20: Sales down 33%, median price up 19%, DOM 25, down 40%.

Nov 21 vs 20: Sales up 51%, median price up 18%, DOM 20, up 39%.

YTD 21 vs 20: Sales up 1%, median price up 19%, DOM 24, down 44%.

North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):

Oct 21 vs 20: Sales down 9%, median price up 12%, DOM 31, down 34%.

Nov 21 vs 20: Sales up 3%, median price up 25%, DOM 25, down 50%.

YTD 21 vs 20: Sales up 2%, median price up 22%, DOM 37, down 38%.

Carrollton/Farmers Branch:

Oct 21 vs 20: Sales down 9%, median price up 20%, DOM 26, down 16%.

Nov 21 vs 20: Sales up 6%, median price up 17%, DOM 25, down 7%.

YTD 21 vs 20: Sales up 2%, median price up 15%, DOM 20, down 39%.

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 (27.8% of sales): down 30%, 0.6 months inventory
$300-399K (24.8% of sales): up 12%, 0.7 months inventory
$400-499K (14.4% of sales): up 35%, 0.9 months inventory
$500-599K (7.6% of sales): up 50%, 1.1 months inventory
$600-699K (4.5% of sales): up 71%, 1.0 months inventory
$700-799K (2.6% of sales): up 75%, 1.1 months inventory
$800-899K (1.6% of sales): up 68%, 1.3 months inventory
$900-999K (1.0% of sales): up 64%, 1.4 months inventory
$1MM and up (3.4% of sales): up 78%, 2.1 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2021 vs 2020.
$200-299K (26.2% of sales): 2168 units vs 1740 units year ago, 0.7 months inventory
$300-399K (23.5% of sales): 1943 units vs 1295 units year ago, 1.1 months inventory
$400-499K (12.6% of sales): 1042 units vs 506 units year ago, 1.7 months inventory
$500-599K (5.1% of sales): 424 units vs 198 units year ago, 1.4 months inventory
$600-699K (2.0% of sales): 169 units vs 84 units year ago, 2.1 months inventory
$700-799K (1.1% of sales): 87 units vs 39 units year ago, 1.3 months inventory
$800-899K (0.6% of sales): 52 units vs 25 units year ago, 4.2 months inventory
$900-999K (0.4% of sales): 35 units vs 14 unit year ago, 3.5 months inventory
$1MM + (1.6% of sales): 136 units vs 65 units year ago, 7.4 months inventory

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