Dallas Home Sales Stats for June, 2020

What a rebound!  Dallas area sales jumped16% in June versus last year, as pent-up demand and incredible mortgage interest rates took charge of the market. With precautions agains virus spread being honored by Realtors and their customers, buyers were busy with showings and at open houses.  Pending sales for July are up 48%.

Of the submarkets I regularly track, 12 of the 17 showed gains in sales and 13 of 17 had higher median sales prices.  Median sales prices are up 3% year to date.  And homes sold in June averaged 98% of asking price.  This is definitely not a bargain-hunter’s market.  Still, looking at specific price points, the $1M plus market is underperforming, with single family home sales 11% lower through the first half of the  year, the weakest price point we have.

Of note is the continuing erosion in the month’s inventory, helping to support prices.  Single family homes priced in the $200-$700 range have fewer than 5 months inventory and fewer than 3 months in the $200-$400 range. .  Condos and townhomes sales, on the other hand, continue to take longer to sell, with those price in the $600’s and above in double digits of standing inventory.

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

Overall Market (North Texas):

Jun 20 vs 19: Sales up 16%, median price up 3%, DOM 50, up 11%

YTD 20 vs 19: Sales down 2%, median price up 3%, DOM 55 up 5%.

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

Jun 20 vs 19: Sales up 4%, median price down 4%, DOM 64, up 36%.
YTD 20 vs 19: Sales down 20%, median price up 1%, DOM 70, up 10%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:

Jun 20 vs 19: Sales down 22%, median price down 16%, DOM 54, down 27%.

YTD 20 vs 19: Sales down 10%, median price down 12%, DOM 68, unchanged.
East Dallas (incl M’s and Lakewood):

Jun 20 vs 19: Sales up 38%, median price up 4%, DOM 44, down 17%.

YTD 20 vs 19: Sales down 4%, median price up 4%, DOM 52, up 8%.
North Dallas (South of LBJ):
Jun 20 vs 19: Sales up 10%, median price up 15%, DOM 116, up 81%.

YTD 20 vs 19: Sales down 11%, median price down 2%, DOM 93, up 37%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Jun 20 vs 19: Sales up 11%, median price up 3%, DOM 53, up 23%.

YTD 20 vs 19: Sales down 9%, median price up 1%, DOM 52 up 13%.
Northwest Dallas (incl Midway Hollow):

Jun 20 vs 19: Sales up 5%, median price up 6%, DOM 47, up 21%.

YTD 20 vs 19: Sales down 12%, median price up 11%, DOM 54, up 10%.
Northeast Dallas (incl Lake Highlands):
Jun 20 vs 19: Sales up 62%, median price up 1%, DOM 48, up 66%.

YTD 20 vs 19: Sales up 15%, median price down 2%, DOM 51, up 11%.
Plano:
Jun 20 vs 19: Sales down 6%, median price up 7%, DOM 37, up 9%.

YTD 20 vs 19:  Sales down 7%, median price up 3%, DOM 46, up 2%.
Frisco:

Jun 20 vs 19: Sales up 13%, median price up 2%, DOM 46, down 29%.

YTD 20 vs 19: Sales unchanged, median price up 1%, DOM 58, up 11%.
Richardson:

Jun 20 vs 19: Sales up 4%, median price up 3%, DOM 34, down 8%.

YTD 20 vs 19: Sales up 5%, median price unchanged, DOM 38, up 3%.
Southlake:

Jun 20 vs 19: Sales down 4%, median price down 9%, DOM 37, up 9%.

YTD 20 vs 19: Sales down 12%, median price up 1%, DOM 40, up 21%.
Coppell:

Jun 20 vs 19: Sales down 33%, median price down 18%, DOM 22, down 33%.

YTD 20 vs 19: Sales down 28%, median price unchanged, DOM 43, up 13%.
Allen:
Jun 20 vs 19: Sales up 17%, median price down 2%, DOM 50, unchanged.

YTD 20 vs 19: Sales down 1%, median price down 2%, DOM 47, down 13%.
Rockwall (incl Heath):

Jun 20 vs 19: Sales up 38%, median price 12 7%, DOM 68, up 21%.

YTD 20 vs 19: Sales down 3%, median up 4%, DOM 70, up 4%.
Cedar Hill:

Jun 20 vs 19: Sales down 25%, median price up 6%, DOM 44, up 83%.

YTD 20 vs 19: Sales down 17%, median price up 8%, DOM 50, up 35%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):

Jun 20 vs 19: Sales up 17%, median price up 3%, DOM 50, up 14%.

YTD 20 vs 19: Sales up 3% median price up 10%, DOM 52, up 2%.

Carrollton/Farmers Branch:

Jun 20 vs 19: Sales unchanged, median price up 2%, DOM 33, unchanged.

YTD 20 vs 19: Sales down 16%, median price up 2%, DOM 38, down 5%.

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 (36.4% of sales): up 1%, 1.2 months inventory
$300-399K (21.0% of sales): up 6%, 2.1 months inventory
$400-499K (9.9% of sales): up 7%, 2.8 months inventory
$500-599K (4.4% of sales): up 2%, 3.4 months inventory
$600-699K (2.3% of sales): unchanged, 4.1 months inventory
$700-799K (1.3% of sales): up 4%, 4.6 months inventory
$800-899K (0.8% of sales): up 6%, 5.0 months inventory
$900-999K (0.5% of sales): down 3%, 6.0 months inventory
$1MM and up (1.6% of sales): down 11%, 10.2 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2020 vs 2019.
$200-299K (28.7% of sales): 792 units vs 846 units year ago, 3.4 months inventory
$300-399K (19.8 % of sales): 545 units vs 586 units year ago, 6.3 months inventory
$400-499K (7.8% of sales): 216 units vs 230 units year ago, 6.3 months inventory
$500-599K (3.8% of sales): 96 units vs 105 units year ago, 8.3 months inventory
$600-699K (1.2% of sales): 32 units vs 55 units year ago, 10.1 months inventory
$700-799K (0.5% of sales): 15 units vs 14 units year ago, 16.0 months inventory
$800-899K (0.4% of sales): 11 units vs 11 units year ago, 11.5 months inventory
$900-999K (0.2% of sales): 5 units vs 10 units year ago, 20.4 months inventory
$1MM + (0.7 of sales): 20 units vs 28 units year ago, 42.0 months inventory

Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540