Dallas Home Sales Stats for November 2012

Dallas home sales and price trends continue to move in a strong positive trend.  Overall sales in the Dallas market were up 18% in November with a gain in median sales price of 11%.  This is really good news for a lot of people in a lot of ways.  The trickle down boost to the economy is huge—construction workers and remodelers, building materials makers and suppliers, home appliances makers and retailers, carpet mills, and so on.  Housing has always been a large contributor to our GDP, and we are happy campers when our economy is improving.

You already know the primary reason for this resurgence—low interest rates.  They have been low and going lower for quite some time, and I hope we don’t become numb to it.  These rates, in the low 3% range, are being held artificially low, intentionally so, to achieve this very outcome—a boost to the economy.  When the Fed policy changes, rates will rebound.  Fortunately, people who can are taking advantage now, locking in rates not seen in several decades.

At some point, we won’t be able to sustain these double-digit sales increases (below) over the previous year’s sales.  That’s okay, of course, as we’ll know we are back to our normal sales volume levels.  But we will need more sellers to come to the market, which should happen as sellers take advantage of the low inventory, improving values and the approaching spring market later in January.

Here are the details for single family homes and condo/townhome sales in selected areas.  For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540.  Scroll down for the “Sales by Price Category” info.  DOM is short for Days on Market.

Overall Market (North Texas):

Nov 12 vs 11:  Sales up 18%, med price up 11%, DOM 74, down 15%.

YTD 12 vs 11:  Sales up 17%, med price up 8%,  DOM 74, down 16%.

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

Nov 12 vs 11:  Sales up 65%, med price unchanged, DOM 84, down 13%.

YTD 12 vs 11:  Sales up 17%, med price up 10%, DOM 96, down 21%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:

Nov 12 vs 11:  Sales up 47%, med price up 13%, DOM 93, down 5%.

YTD 12 vs 11:  Sales up 21%, med price up 2%, DOM 79, down 20%.

East Dallas (incl M’s and Lakewood):

Nov 12 vs 11:  Sales up 19%, med price up 32%,  DOM 68, down 23%.

YTD 12 vs 11: Sales up 27%, med price up 8%, DOM 75, down 19%.

North Dallas (South of LBJ):

Nov 12 vs 11:  Sales up 84%, med price unchanged, DOM 69, down 37%.

YTD 12 vs 11: Sales up 31%, med price down 9%, DOM 90, down 19%.

Far North Dallas (incl Addison and to Park Blvd in Plano):

Nov 12 vs 11:  Sales up 25%, med price up 3%, DOM 61, down 30%.

YTD 12 vs 11: Sales up 31%, med price up 3%, DOM 65, down 24%.

Northwest Dallas:

Nov 12 vs 11:  Sales up 24%, med price up 52%, DOM 77, up 8%.

YTD 12 vs 11: Sales up 28%, med price up 17%, DOM 73, down 13%. 

Northeast Dallas (incl Lake Highlands):

Nov 12 vs 11: Sales up 26%, med price up 9%,  DOM 53, down 40%.

YTD 12 vs 11: Sales up 30%, med price up 11%, DOM 55, down 27%.

Plano:

Nov 12 vs 11: Sales up 28%, med price up 7%, DOM 53, down 26%.

YTD 12 vs 11: Sales up 18%, med price up 4%, DOM 56, down 25%.

Frisco:

Nov 12 vs 11: Sales up 16%, med price down 2%, DOM 54, down 30%.

YTD 12 vs 11: Sales up 17%, med price up 2%, DOM 58, down 24%.

Richardson:

Nov 12 vs 11: Sales up 34%, med price up 10%, DOM 48, down 41%.

YTD 12 vs 11: Sales up 19%, med price up 3%, DOM 56, down 24%.

Southlake:

Nov 12 vs 11:  Sales unchanged, med price down 11%, DOM 87%, down 6%.

YTD 12 vs 11: Sales up 27%, med price unchanged, DOM 73, down 15%.

Coppell

Nov 12 vs 11:  Sales up 48%, med price up 24%, DOM 73, unchanged.

YTD 12 vs 11: Sales up 13%, med price up 2%, DOM 56, down 20%.

Allen:

Nov 12 vs 11:  Sales up 5%, med price up 16%, DOM 51, down 35%.

YTD 12 vs 11: Sales up 15%, med price up 3%, DOM 57, down 21%. 

Rockwall (incl Heath):

Nov 12 vs 11:  Sales up 12%, med price up 7%, DOM 75, down 21%.

YTD 12 vs 11: Sales up 20%, med price up 4%, DOM 83, down 17%.

Las Colinas and Kessler Park:  Call Me!

Here is a look at Single Family home sales by price category for YTD 2012 vs 2011:

$200-299K (18.6% of sales): up 28%, 4 months inventory

$300-399K (8.0% of sales):  up 32%, 5 months inventory

$400-499K (3.5% of sales):  up 28%, 6 months inventory

$500-599K (1.7% of sales):  up 22%, 7 months inventory

$600-699K (1.1% of sales):  up 22%, 8 months inventory

$700-799K (0.6% of sales):  up 27%, 9 months inventory

$800-899K (0.4% of sales):  up 21%, 10 months inventory

$900-999K (0.3% of sales):  up 11%, 11 months inventory

$1MM and up (1.0% of sales): up 23%, 12 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2012 vs 2011.

$200-299K (18.9% of sales): 670 units vs 468 units year ago, 6 months inventory

$300-399K (6.3% of sales): 249 units vs 208 units year ago, 7 months

$400-499K (3.3% of sales): 131 units vs 79 units year ago, 7 months

$500-599K (1.5% of sales): 60 units vs 38 units year ago, 9 months

$600-699K (0.4% of sales): 14 units vs 20 units year ago, 18 months

$700-799K (0.5% of sales): 18 units vs 17 units year ago, 12 months

$800-899K (0.4% of sales): 15 units vs 7 units year ago, 11 months

$900-999K (0.1% of sales): 4 units vs 8 units year ago, 22 months

$1MM + (0.6% of sales): 24 units vs 27 units year ago, 31 months

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

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