Overall Dallas June sales were DOWN 3%, after three months of 20%+ year-over-year sales gains, which smashed a few records along the way. But you and I knew that was coming, because 1) those kind of sales gains are unsustainable, and 2) we are comparing this June to last June’s gangbuster month when the barn door opened from eased lockdowns. That pent-up demand was real and stemmed from the natural spring sales that were canceled and from everyone reassessing their lifestyles and home requirements. We sold over 11,000 single family homes this June, just a few hundred fewer than last June. Pretty darn good. In fact, sales of homes in all price points, $600K or more, have more than doubled this year. Sales of homes $200K or less are down 20-40%. There just aren’t any available.
But things could be settling down a bit, as pending sales are down 18% and new listings are essentially flat. This could mean the demand is still there and buyers can’t find or make a deal on a home they want, or we are just in our typical summer vacation mode where no one is home, Realtors included. Last July, we sold a one-month record 13,679 single family homes. I don’t think we’ll come close to that this July. So, I think we are experiencing a combination of buyer fatigue and summer travel.
Now, prices haven’t taken a break. In June, the average sales price was up 28% and the median sales price up 23%. The average days on market was only 20 days for the whole area, and as low as 10 days for Southlake and Carrollton-Farmers Branch. Plano and Allen 12 days; several other submarkets in the teens (see the details below). So prices are still being propped up by low supply or fast turnover.
Below are the results for a sample of submarkets I follow. Enjoy!
Overall Market (North Texas):
May 21 vs 20: Sales up 27%, median price up 26%, DOM 24, down 53%
Jun 21 vs 20: Sales down 3%, median price up 23%, DOM 20, down 60%.
YTD 21 vs 20: Sales up 7%, median price up 18%, DOM 30, down 45%
Uptown, Downtown and Turtle Creek (Condos and Townhomes):
May 21 vs 20: Sales up 240%, median price up 22%, DOM 78, down 11%.
Jun 21 vs 20: Sales up 85%, median price up 22%, DOM 52, down 24%.
YTD 21 vs 20: Sales up 93%, median price up 17%, DOM 68, down 6%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
May 21 vs 20: Sales up 181%, median price up 32%, DOM 54, up 15%.
Jun 21 vs 20: Sales up 12%, median price up 25%, DOM 35, down 35%.
YTD 21 vs 20:Sales up 37%, median price up 27%, DOM 58, down 15%.
East Dallas (incl M’s and Lakewood):
May 21 vs 20: Sales up 65%, median price up 19%, DOM 25, down 42%.
Jun 21 vs 20: Sales down 10%, median price up 18%, DOM 18, down 59%.
YTD 21 vs 20: Sales up 21%, median price up 13%, DOM 30, down 42%
North Dallas (South of LBJ):
May 21 vs 20: Sales up 217%, median price up 29%, DOM 42, down 45%.
Jun 21 vs 20: Sales up 12%, median price up 20%, DOM 43, down 63%.
YTD 21 vs 20: Sales up 62%, median price up 20%, DOM 64, down 30%.
Far North Dallas (incl Addison and to Park Blvd in Plano):
May 21 vs 20: Sales up 93%, median price up 27%, DOM 21, down 54%.
Jun 21 vs 20: Sales up 28%, median price up 25%, DOM 13, down 75%.
YTD 21 vs 20: Sales up 41%, median price up 17%, DOM 28, down 41%.
Northwest Dallas (incl Midway Hollow):
May 21 vs 20: Sales up 25%, median price up 21%, DOM 20, down 53%.
Jun 21 vs 20: Sales up 24%, median price up 21%,DOM 21, down 53%.
YTD 21 vs 20: Sales up 42%, median price up 14%, DOM 34, down 37%.
Northeast Dallas (incl Lake Highlands):
May 21 vs 20: Sales up 24%, median price up 30%, DOM 18, down 69%.
Jun 21 vs 20: Sales down 13%, median price up 24%, DOM 22, down 53%.
YTD 21 vs 20: Sales up 9%, median price up 22%, DOM 34, down 33%.
Plano:
May 21 vs 20: Sales up 35%, median price up 23%, DOM 11, down 71%.
Jun 21 vs 20: Sales up 18%, median price up 23%, DOM 12, down 69%.
YTD 21 vs 20: Sales up 13%, median price up 20%, DOM 21, down 54%.
Frisco:
May 21 vs 20: Sales up 53%, median price up 28%, DOM 15, down 72%.
Jun 21 vs 20: Sales up 10%, median price up 29%, DOM 14, down 71%.
YTD 21 vs 20: Sales up 6%, median price up 25%, DOM 21, down 64%.
Richardson:
May 21 vs 20: Sales up 32%, median price up 22%, DOM 14, down 61%
Jun 21 vs 20: Sales up 1%, median price up 19%, DOM 18, down 47%.
YTD 21 vs 20: Sales up 3%, median price up 16%, DOM 24, down 37%
Southlake:
May 21 vs 20: Sales up 85%, median price up 39%, DOM 20, down 73%.
Jun 21 vs 20: Sales down 5%, median price up 62%, DOM 10, down 73%.
YTD 21 vs 20: Sales up 15%, median price up 29%, DOM 28, down 50%.
Coppell:
May 21 vs 20: Sales up 59%, median up 47%, DOM 12, down 54%.
Jun 21 vs 20: Sales up 58%, median price up 30%, DOM 16, down 27%.
YTD 21 vs 20: Sales up 25%, median price up 17%, DOM 24, down 44%.
Allen:
May 21 vs 20: Sales up 34%, median price up 34%, DOM 12, down 72%.
Jun 21 vs 20: Sales up 6%, median price up 28%, DOM 12, down 76%.
YTD 21 vs 20: Sales up 6%, median price up 21%, DOM 18, down 61%.
Rockwall (incl Heath):
May 21 vs 20: Sales up 18%, median price up 16%, DOM 23, down 61%.
Jun 21 vs 20: Sales down 2%, median price up 18%, DOM 22, down 68%.
YTD 21 vs 20: Sales up 6%, median price up 17%, DOM 29, down 59%.
Cedar Hill:
May 21 vs 20: Sales up 24%, median price up 11%, DOM 24, down 56%.
Jun 21 vs 20: Sales up 24%, median price up 19%, DOM 15, down 64%.
YTD 21 vs 20: Sales up 7%, median price up 15%, DOM 28, down 44%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
May 21 vs 20: Sales up 20%, median price up 35%, DOM 32, down 40%.
Jun 21 vs 20: Sales down 1%, median price up 48%, DOM 27, down 47%.
YTD 21 vs 20: Sales up 15%, median price up 27%, DOM 37, down 42%.
Carrollton/Farmers Branch:
May 21 vs 20: Sales up 28%, median price up 23%, DOM 13, down 59%.
Jun 21 vs 20: Sales down 4%, median price up 22%, DOM 10, down 69%.
YTD 21 vs 20: Sales up 8%, median price up 15%, DOM 19, down 50%.
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 (29.8% of sales): up 14%, 0.2 months inventory
$300-399K (23.6% of sales): up 20%, 0.8 months inventory
$400-499K (13.4% of sales): up 46%, 1.0 months inventory
$500-599K (6.9% of sales): up 71%, 1.3 months inventory
$600-699K (4.2% of sales): up 98%, 1.1 months inventory
$700-799K (2.4% of sales): up 103%, 1.4 months inventory
$800-899K (1.9% of sales): up 102%, 1.8 months inventory
$900-999K (1.0% of sales): up 107%, 1.9 months inventory
$1MM and up (3.6% of sales): up 147%, 2.5 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2021 vs 2020.
$200-299K (25.8% of sales): 1149 units vs 791 units year ago, 1.2 months inventory
$300-399K (22.9% of sales): 1020 units vs 554 units year ago, 1.4 months inventory
$400-499K (11.8% of sales): 526 units vs 218 units year ago, 2.0 months inventory
$500-599K (5.2% of sales): 231 units vs 97 units year ago, 2.2 months inventory
$600-699K (2.0% of sales): 91 units vs 32 units year ago, 2.2 months inventory
$700-799K (1.1% of sales): 50 units vs 15 units year ago, 2.8 months inventory
$800-899K (0.6% of sales): 27 units vs 11 units year ago, 3.3 months inventory
$900-999K (0.5% of sales): 21 units vs 5 unit year ago, 7.7 months inventory
$1MM + (1.8% of sales): 79 units vs 20 units year ago, 6.6 months inventory