January sales numbers are just in, and it was gangbusters. Overall Dallas area sales were up a whopping 21% vs year ago, following a 15% increase in December. January is historically the slowest month of the year for closed sales, so this performance is quite a surprise. Unlike previous big sales months, where sales gains are concentrated in the $200’s to $400’s, double-digit percentage gains for single family homes were evident in almost all price ranges above the $200’s, with only the $700’s (+8%) not joining in. Furthermore, we saw double-digit sales gains across 15 of the 17 submarkets I track. It’s a broad-based rally enjoyed by buyers of all price levels in all parts of metro area.
What the Realtor community describes as the Park Cities market and neighboring areas of Greenway Parks, Devonshire, Briarwood and Bluffview had an eye-popping 194% increase in sales, almost triple last year’s January, with 50 closings versus 17 last year.
Median sales prices for the overall market were also higher, +8%, a fairly robust number compared to last year’s monthly struggle in the +2-5% range. And these increases in the median price were enjoyed by 14 of 17 submarkets as well.
Pending sales are pointing upward for February, so we could be in for a very strong Spring Market. More to come.
Here are the details: DOM stands for “days on market”.
Overall Market (North Texas):
Jan 20 vs 19: Sales up 21%, median price up 8%, DOM 63, up 5%.
2019 vs 18: Sales up 3%, median price up 3%, DOM 52 up 13%.
Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Jan 20 vs 19: Sales up 19%, median price up 11%, DOM 71,
up 11%.
2019 vs 18: Sales down 2%, median price down 3%, DOM 66, up 20%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Jan 20 vs 19: Sales up 194%, median price down 8%, DOM 85, down 29%.
2019 vs 18: Sales up 1%, median price up 5%, DOM 78, up 15%.
East Dallas (incl M’s and Lakewood):
Jan 20 vs 19: Sales up 2%, median price up 4%, DOM 84, up 53%.
2019 vs 18: Sales up 3%, median price down 3%, DOM 49, up 23%.
North Dallas (South of LBJ):
Jan 20 vs 19: Sales up 63%, median price up 6%, DOM 99, up 8%.
2019 vs 18: Sales up 2%, median price down 8%, DOM 73, down 8%.
Far North Dallas (incl Addison and to Park Blvd in Plano):
Jan 20 vs 19: Sales up 29%, median price up 18%, DOM 67, up 22%.
2019 vs 18: Sales down 1%, median price down 1%, DOM 50, up 22%.
Northwest Dallas (incl Midway Hollow):
Jan 20 vs 19: Sales up 31%, median price up 34%, DOM 87, up 47%.
2019 vs 18: Sales up 5%, median price up 1%, DOM 50, up 25%.
Northeast Dallas (incl Lake Highlands):
Jan 20 vs 19: Sales up 42%, median price up 10%, DOM 70, up 19%.
2019 vs 18: Sales up 5%, median price up 1%, DOM 50, up 25%.
Plano:
Jan 20 vs 18: Sales up 16%, median price up 11%, DOM 66, down 1%.
2019 vs 18: Sales down 2%, median price unchanged, DOM 47, up 18%.
Frisco:
Jan 20 vs 19: Sales up 43%, median price up 1%, DOM 81, down 6%.
2019 vs 18: Sales up 2%, median price up 2%, DOM 64, up 7%.
Richardson:
Jan 20 vs 19: Sales up 55%, median price up 2%, DOM 59, up 26%.
2019 vs 18: Sales up 4%, median price up 3%, DOM 39, up 30%.
Southlake:
Jan 20 vs 19: Sales down 9%, median price down 4%, DOM 96, up 100%.
2019 vs 18: Sales down 1%, median price unchanged, DOM 56, unchanged.
Coppell:
Jan 20 vs 19: Sales up 20%, median price down 2%, DOM 67, up 37%.
2019 vs 18: Sales up 8%, median price down 1%, DOM 43, down 7%.
Allen:
Jan 20 vs 19: Sales up 30%, median price up 16%, DOM 57, down 12%.
2019 vs 18: Sales up 10%, median price up 2%, DOM 52, up 21%.
Rockwall (incl Heath):
Jan 20 vs 19: Sales up 29%, median price up 6%, DOM 78, up 20%.
2019 vs 18: Sales up 4%, median up 1%, DOM 63, up 17%.
Cedar Hill:
Jan 20 vs 19: Sales down 20%, median price up 18%, DOM 60, up 67%.
2019 vs 18: Sales down 1%, median price up 7%, DOM 39, up 30%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
Jan 20 vs 19: Sales unchanged, median price up 11%, DOM 59, up 9%
2019 vs 18: Sales up 11%, median price up 5%, DOM 50, up 14%.
Carrollton/Farmers Branch:
Jan 20 vs 18: Sales up 15%, median price up 12%, DOM 60, up 13%.
2019 vs 18: Sales up 11%, median price up 2%, DOM 40, up 29%.
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 (36.5% of sales): up 20%, 2.4 months inventory
$300-399K (19.1% of sales): up 46%, 3.6 months inventory
$400-499K (8.7% of sales): up 36%, 4.8 months inventory
$500-599K (3.8% of sales): up 64%, 5.1 months inventory
$600-699K (2.2% of sales): up 66%, 5.6 months inventory
$700-799K (1.0% of sales): up 8%, 7.4 months inventory
$800-899K (0.7% of sales): up 81%, 7.6 months inventory
$900-999K (0.6% of sales): up 124%, 6.6 months inventory
$1MM and up (1.4% of sales): up 37%, 12.0 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2019 vs 2018.
$200-299K (24.8% of sales): 59 units vs 90 units year ago, 4.6 months inventory
$300-399K (18.6% of sales): 66 units vs 54 units year ago, 7.5 months inventory
$400-499K (7.9% of sales): 28 units vs 14 units year ago, 8.7 months inventory
$500-599K (2.3% of sales): 8 units vs 11 units year ago, 13.9 months inventory
$600-699K (1.7% of sales): 6 units vs 4 units year ago, 10.2 months inventory
$700-799K (1.1% of sales): 4 units vs 2 units year ago, 8.0 months inventory
$800-899K (0.3% of sales): 1 unit vs 1 unit year ago, 15.0 months inventory
$900-999K (0.0% of sales): 0 units vs 0 units year ago, N/A months inventory
$1MM + 2.0% of sales): 7 units vs 3 units year ago, 14.7 months inventory
Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540