Finally, 2002 Year-End statistics are here! Dallas had a pretty decent year, real estate-wise, breaking even for the year vs year ago in single family sales and notching a 6% increase in sales of condos and townhomes. Not bad, given the soft economy and subpar performance in other financial markets.
A strong December pulled us into the “black” for 2002, with a 3% gain in single family sales and an 11% gain in condos and townhomes for the month.
Here are the details for selected areas. For a more comprehensive look at any one market, give me a call. Scroll down for the “Sales by Price Category” info.
Stats
Dallas, YTD: Sales even, avg price up 3%, DOM up 11% to 62.
Dallas, Dec: Sales up 3%, avg price up 4%, DOM up 6% to 70.
Oak Lawn and Uptown (Condos and Townhomes):
YTD: Sales up 14%, avg price down 4%, DOM down 9% to 93.
Dec 02 vs 01: Sales up 25%, avg price down 7%, DOM down 27% to 86.
Highland Park and University Park:
YTD: Sales up 6%, avg price up 4%, DOM up 15% to 78.
Dec 02 vs 01: Sales up 39%, avg price down 9%, DOM up 17% to 103.
East Dallas (incl M’s and Lakewood):
YTD: Sales down 1%, avg price up 8%, DOM up 8% to 53.
Dec 02 vs 01: Sales down 9%, avg price up 16%, DOM down 5% to 58.
North Dallas (South of LBJ):
YTD: Sales down 4%, avg price down 2%, DOM up 10% to 74.
Dec 02 vs 01: Sales up 12%, avg price down 20%, DOM up 43% to 93.
Far North Dallas (incl Addison):
YTD: Sales down 2%, avg price up 3%, DOM up 20% to 57.
Dec 02 vs 01: Sales up 29%, avg price up 10%, DOM up 12% to 65.
Northwest Dallas:
YTD: Sales down 6%, avg price up 9%, DOM up 14% to 50.
Dec 02 vs 01: Sales down 16%, avg price up 15%, DOM up 31% to 63.
Northeast Dallas (incl Lake Highlands):
YTD: Sales even, avg price up 5%, DOM up 10% to 42.
Dec 02 vs 01: Sales down 14%, avg price up 5%, DOM down 1% to 53.
Plano:
YTD: Sales down 5%, avg price down 4%, DOM up 12% to 55.
Dec 02 vs 01: Sales down 3%, avg price up 6%, DOM up 3% to 66.
Frisco:
YTD: Sales down 1%, avg price 10%, DOM up 15% to 78.
Dec 02 vs 01: Sales down 8%, avg price up 26%, DOM up 12% to 87.
Here is a look at single family home sales by price category for 2002 vs 2001:
$200-299K (12.8% of sales): up 3%
$300-399K (5.3% of sales): up 7%
$400-499K (1.9% of sales): up 11%
$500-599K (0.9% of sales): up 5%
$600-699K (0.8% of sales): up 6%
$700-799K (0.3% of sales): up 16%
$800-899K (0.3% of sales): up 9%
$900-999K (0.2% of sales): up 6%
$1MM and up (0.5% of sales): up 12%
I hope you find this report of interest. Please feel free to email your comments to me at Bob@BobEdmonson.com. You can search the MLS for homes on the market from my website, BobEdmonson.com. Go to “Homes for Sale” and scroll down to “North Texas MLS”. Finally, tell me who we can help with the purchase or sale of their home now. We live and breathe your wonderful referrals.
Have a wonderful New Year,
Bob and Knoxie