Dallas Home Sales Stats for October, 2019

Dallas single family home sales in October came in strong, up 11%, following a 9% increase year-over-year in September, while townhouse and condo sales remain quite soft. Overall Dallas single family sales prices were up as well, with the median up 6% vs year ago.

As we often hear, “Your results may vary”, is true again as the price of the home, inventory level and part of town have a bearing on market area performance.  Mortgage interest rates affect all all of the homes equally across loan type (jumbo loans vs conventional loans vs adjustable rate loans), and right now there seems to be race underway to take advantage of the very attractive rates across most of the markets I track (below).

As we know, the $200’s (+9%), $300’s (+9%) and $400’s (+5%) represent 56% of all single family homes sold in our 22 county area.  These percentage gains in sales represent almost 5000 of the 9100 homes sold in October, which is a record for the month. Sales were up in the other price points from the $500’s to over $1M.  Sales were up in all but three of the markets I track.  The three markets that fell short were Richardson, Far North Dallas and Northwest Dallas.  Seven of the seventeen markets are still tracking below last year’s 10-month sales total. Of the markets with double-digit percentage gains in October, it’s important to remember those results are based on much smaller numbers.  For example, the 43% gain in the greater Park Cities sales was due to 19 additional homes sold, 8 of which were in Highland Park and University Park proper.

The big picture is pretty positive heading to the end of the year.  November pending sales are up, indicating this new trend which took hold after the summer months may continue. Lenders tell me the interest rates are going to hold fairly steady, and the economy seems to continue it’s healthy pace.  This fall’s sales pace is pushing prices up again, after months of 1-2% price increases. The ingredients for there for more of the same next month.  We’ll see if that holds true.

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

Overall Market (North Texas):

Oct 19 vs 18: Sales up 11%, median price up 6%, DOM 52 up 8%.

YTD 19 vs 18: Sales up 3%, median price up 3%, DOM 51 up 15%.

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

Oct 19 vs 18: Sales up 49%, median price unchanged, DOM 88,
up 76%.

YTD 19 vs 18: Sales down 5%, median price down 3%, DOM 63, up 11%.
Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:

Oct 19 vs 18: Sales up 43%, median price down 6%, DOM 90, down 7%.

YTD 19 vs 18: Sales down 2%, median price up 6%, DOM 77, up 13%.
East Dallas (incl M’s and Lakewood):

Oct 19 vs 18: Sales up 16%, median price down 3%, DOM 49, up 14%.

YTD 19 vs 18: Sales up 1%, median price down 1%, DOM 48, up 30%.
North Dallas (South of LBJ):
Oct 19 vs 18: Sales up 82%, median price up 13%, DOM 80, up 33%.

YTD 19 vs 18: Sales unchanged, median price down 8%, DOM 70, down 8%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Oct 19 vs 18: Sales down 10%, median price down 1%, DOM 66, up 43%.

YTD 19 vs 18: Sales down 3%, median price unchanged, DOM 49, up 26%.
Northwest Dallas:
Oct 19 vs 18: Sales down 28%, median price up 16%, DOM 46, up 18%.

YTD 19 vs 18: Sales down 4%, median price up 2%, DOM 49, up 26%.
Northeast Dallas (incl Lake Highlands):
Oct 19 vs 18: Sales up 2%, median price up 3%, DOM 55, up 20%.

YTD 19 vs 18: Sales up 5%, median price unchanged, DOM 49, up 23%.
Plano:
Oct 19 vs 18: Sales up 18%, median price down 3%, DOM 46, up 2%.

YTD 19 vs 18:  Sales down 4%, median price down 1%, DOM 45, up 22%.
Frisco:

Oct 19 vs 18: Sales up 16%, median price up 6%, DOM 54, down 25%.

YTD 19 vs 18: Sales unchanged, median price up 2%, DOM 61, up 7%.
Richardson:

Oct 19 vs 18: Sales down 8%, median price up 1%, DOM 32, up 3%.

YTD 19 vs 18: Sales up 6%, median price up 3%, DOM 37, up 37%.
Southlake:

Oct 19 vs 18: Sales up 18%, median price up 8%, DOM 54, up 13%.

YTD 19 vs 18: Sales down 3%, median price up 1%, DOM 53, unchanged.
Coppell:

Oct 19 vs 18: Sales up 19%, median price up 11%, DOM 48, down 23%.

YTD 19 vs 18: Sales up 4%, median price down 1%, DOM 38, down 12%.
Allen:
Oct 19 vs 18: Sales up 8%, median price down 6%, DOM 52, up 2%.

YTD 19 vs 18: Sales up 14%,  median price up 3%, DOM 51, up 38%.
Rockwall (incl Heath):

Oct 19 vs 18: Sales up 19%, median price up 3%, DOM 64, up 14%.

YTD 19 vs 18: Sales up 5%, median up 1%, DOM 62, up 22%.
Cedar Hill:
Oct 19 vs 18: Sales up 2%, median price up 10%, DOM 31, up 48%.

YTD 19 vs 18: Sales up 2%, median price up 6%, DOM 37, up 28%.
North Oak Cliff (incl Kessler Park, Stevens Park, Winnetka Heights):
Oct 19 vs 18: Sales up 15%, median price up 5%, DOM 53, up 51%.

YTD 19 vs 18: Sales up 11%, median price up 3%, DOM 48, up 14%.

Carrollton/Farmers Branch:

Oct 19 vs 18: Sales up 29%, median price up 6%, DOM 39, up 5%.

YTD 19 vs 18: Sales up 13%, median price up 4%, DOM 38, up 31%.

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 2019 vs 2018:
$200-299K (35.6% of sales): up 9%, 2.3 months inventory
$300-399K (19.7% of sales): up 9%, 3.1 months inventory
$400-499K (9.2% of sales): up 5%, 3.9 months inventory
$500-599K (4.3% of sales): up 6%, 4.1 months inventory
$600-699K (2.2% of sales): up 5%, 5.2 months inventory
$700-799K (1.2% of sales): up 3%, 5.4 months inventory
$800-899K (0.8% of sales): up 3%, 6.8 months inventory
$900-999K (0.5% of sales): up 21%, 7.4 months inventory
$1MM and up (1.7% of sales): up 2%, 9.3 months inventory
Here is a look at Condos and Townhomes sales by price category for YTD 2019 vs 2018.
$200-299K (22.4% of sales): 1469 units vs 1446 units year ago, 3.6 months inventory
$300-399K (19.3%of sales): 1021 units vs 1011 units year ago, 5.4 months inventory
$400-499K (7.1% of sales): 375 units vs 452 units year ago, 7.9 months inventory
$500-599K (3.6% of sales): 188 units vs 194 units year ago, 6.0 months inventory
$600-699K (1.6% of sales):83 units vs 74 units year ago, 7.3 months inventory
$700-799K (0.4% of sales): 22 units vs 34 units year ago, 16.4 months inventory
$800-899K (0.3% of sales): 14 units vs 22 units year ago, 12.1 months inventory
$900-999K (0.4% of sales): 20 units vs 18 units year ago, 10.5 months inventory
$1MM + (1.0% of sales): 52 units vs 58 units year ago, 20.0 months inventory

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