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 managed to find time to buy homes. And we did so in the face of record low inventory and rising prices. Dallas area sales in December rose 18% over last year’s December and finished 2020 10% higher than 2019. This was an amazing result given virus lockdowns in the spring that torpedoed the Spring Market. Real estate activity was declared “non-essential”, halting open houses and postponing closings. Last March, no one would have guessed the year would produce a record 119,121 single family home sales in our several counties area. But we did it.
I have touched on a lot of the reasons why–mostly virus related–with a desire for a more functional home, a desire for lower density living, and the discovery of the convenience and ability for many to reduce or eliminate the commute to the office. Record low mortgage rates didn’t hurt either.
Enjoy looking at your neighborhood’s results below. The stat that most impresses me is that sales of homes in the various price points of $500K and higher were up over 30% from last year. And the two lower price points of $300K and $400K were up over 20%. It was some kind of year.
Here are the details: DOM stands for “days on market”.
Overall Market (North Texas):
Dec 20 vs 19: Sales up 18%, median price up 9%, DOM 40, down 34%
YTD 20 vs 19: Sales up 10%, median price up 7%, DOM 47, down 9%.
Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Dec 20 vs 19: Sales up 7%, median price up 41%, DOM 86, up 13%.
YTD 20 vs 19: Sales down 4%, median price up 4%, DOM 70, up 6%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Dec 20 vs 19: Sales up 26%, median price up 7%, DOM 68, down 22%.
YTD 20 vs 19: Sales up 13%, median price down 3%, DOM 68, down 13%.
East Dallas (incl M’s and Lakewood):
Dec 20 vs 19: Sales up 12%, median price up 15%, DOM 39, down 32%.
YTD 20 vs 19: Sales up 14%, median price up 8%, DOM 44, down 10%.
North Dallas (South of LBJ):
Dec 20 vs 19: Sales up 12%, median price up 10%, DOM 104, up 7%.
YTD 20 vs 19: Sales up 12%, median price up 7%, DOM 81, up 11%.
Far North Dallas (incl Addison and to Park Blvd in Plano):
Dec 20 vs 19: Sales up 29%, median price up 5%, DOM 45, down 12%.
YTD 20 vs 19: Sales up 8%, median price up 4%, DOM 43, down 14%.
Northwest Dallas (incl Midway Hollow):
Dec 20 vs 19: Sales up 67%, median down 1%, DOM 43, down 36%.
YTD 20 vs 19: Sales up 13%, median price up 8%, DOM 46, down 10%.
Northeast Dallas (incl Lake Highlands):
Dec 20 vs 19: Sales up 40%, median price up 8%, DOM 32, down 52%.
YTD 20 vs 19: Sales up 21%, median price up 8%, DOM 42, down 16%.
Plano:
Dec 20 vs 19: Sales up 20%, median price up 11%, DOM 33, down 40%.
YTD 20 vs 19: Sales up 9%, median price up 6%, DOM 39, down 17%.
Frisco:
Dec 20 vs 19: Sales down 4%, median price up 11%, DOM 36, down 53%.
YTD 20 vs 19: Sales up 11%, median price up 4%, DOM 46, down 28%.
Richardson:
Dec 20 vs 19: Sales up 12%, median price up 5%, DOM 20, down 60%.
YTD 20 vs 19: Sales up 12%, median price up 4%, DOM 33, down 15%.
Southlake:
Dec 20 vs 19: Sales up 11%, median price up 25%, DOM 67, down 22%.
YTD 20 vs 19: Sales up 3%, median price up 8%, DOM 52, down 7%.
Coppell:
Dec 20 vs 19: Sales down15%, median down 4%, DOM 29, down 56%.
YTD 20 vs 19: Sales down 11%, median price up 4%, DOM 37, down 14%.
Allen:
Dec 20 vs 19: Sales up 11%, median price up 11%, DOM 32, down 48%.
YTD 20 vs 19: Sales up 13%, median price up 6%, DOM 40, down 25%.
Rockwall (incl Heath):
Dec 20 vs 19: Sales up 32%, median price up 12%, DOM 40, down 49%.
YTD 20 vs 19: Sales up 19%, median up 8%, DOM 57, down 10%.
Cedar Hill:
Dec 20 vs 19: Sales down 8%, median price up 21%, DOM 29, down 41%.
YTD 20 vs 19: Sales down 3%, median price up 8%, DOM 42, up 8%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
Dec 20 vs 19: Sales up 29%, median price up 17%, DOM 42, down 18%.
YTD 20 vs 19: Sales up 14%, median price up 11%, DOM 52, up 4%.
Carrollton/Farmers Branch:
Dec 20 vs 19: Sales up 5%, median price up 12%, DOM 33, down 35%.
YTD 20 vs 19: Sales down 5%, median price up 6%, DOM 33, down 18%.
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 2020 vs 2019:
$200-299K (35.8% of sales): up 11%, 0.6 months inventory
$300-399K (21.9% of sales): up 21%, 0.8 months inventory
$400-499K (10.7% of sales): up 28%, 1.1 months inventory
$500-599K (5.0% of sales): up 31%, 1.1 months inventory
$600-699K (2.6% of sales): up 31%, 1.4 months inventory
$700-799K (1.5% of sales): up 38%, 1.8 months inventory
$800-899K (1.0% of sales): up 36%, 1.9 months inventory
$900-999K (0.6% of sales): up 35%, 2.2 months inventory
$1MM and up (2.0% of sales): up 31%, 4.1 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2020 vs 2019.
$200-299K (29.0% of sales): 1944 units vs 1776 units year ago, 2.0 months inventory
$300-399K (21.0% of sales): 1445 units vs 1214 units year ago, 3.3 months inventory
$400-499K (8.5% of sales): 583 units vs 459 units year ago, 4.9 months inventory
$500-599K (3.3% of sales): 230 units vs 219 units year ago, 4.3 months inventory
$600-699K (1.3% of sales): 83 units vs 91 units year ago, 6.3 months inventory
$700-799K (0.6% of sales): 43 units vs 28 units year ago, 10.9 months inventory
$800-899K (0.4% of sales): 27 units vs 16 units year ago, 9.3 months inventory
$900-999K (0.2% of sales): 16 units vs 23 units year ago, 16.5 months inventory
$1MM + (1.0% of sales): 72 units vs 69 units year ago, 16.3 months inventory
Click here to view a detailed list of Property Tax Rates.
Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540