Far North Dallas Residential Sales Report for February

Single-Family:

Sales were up by 1% in the Far North Dallas area in February. The average sales price had a slight drop of 1% but the median sales price increased by 10%. Pending sales climber by 9%. The new listings fell by 16% and the active listings also by 16%. The months of inventory is now at 1.3 months. Really no change from the previous months. Very low inventory and prices continuing to climb.

Sales: 75

Average Sales Price: $368,626

Median Sales Price: $350,000

Pending Sales:83

New Listings: 94

Active listings: 133

Months of Inventory: 1.3

Condos and Townhouses:

Sales were up by 8%. The average sales price declined by6% while the median price was off by 11%. Looks like were has some additional sales in the lower prices ranges pulling the averages down. Pending sales were up by 64%. New listings were flat and the active listings declined by 41%. The months of inventory is now at 1 month. Tuff to find a condo or townhouse.

Sales: 42

Average Sales Price: $143,973

Median Sales Price: $109,780

Pending Sales: 41

New Listings: 47

Active Listings:46

Months of Inventory: 1

Leases:

Leases were down by 32% in February. The average rent increased by 2% and the median rent by 10%. Pending leases jumped by 82%. New Listings fell by 6% and the active listings declined by 15%. The months of inventory is at 1.5 months. It’s just as hard to find a homes to lease as it is to find one to buy.

Leases: 26

Average Rent: $1,415

Median Rent: $1,450

Pending Leases: 20

New Listings: 50

Active Listings: 66

Months of Inventory: 1.5

Information provided by The Real Estate Center at Texas A&M