Single-Family:
Sales were up 7% in the Lake highlands/Northeast Dallas Area in February. The average sales price increased by 7% while the median price was up by 6%. Pending sales were off by 16%. The number of new listings declined by 8% and the active listings by 18%. The months of inventory fell to 1.2 months. As in other areas sales are being held back by the shortage of homes on the market.
Sales: 47
Average Sales Price: $341,424
Median Sales Price: $315,380
Pending Sales: 54
New Listings: 73
Active Listings: 78
Months of Inventory: 1.2
Condos and Townhouses:
Condo and townhouse sales were up a strong 44% in February. The average sales price declined by 28% and the median price by 44%. These declines are caused by a large number of sales being concentrated in the lower price range. The pending sales were up by 100%. The new listings increases by 14% and the active listings by 22%. The increases in the active listings brought up the months of inventory to 2.3 months.
Sales: 26
Average Sales Price: $50,267
Median Sales Price: $39,000
Pending Sales: 34
New Listings: 18
Active listings: 56
Months of Inventory: 2.3
Leases:
New leases in this area fell by 46%. The average rent increases by 13% and the median rent by 24%. Pending leases were flat. The number of new listings declined by 30% and the active listings by 22%. The months of inventory dropped to 1.3 months. As in other areas, it’s pretty hard to find a good property to lease.
Leases: 20
Average rent: $1,119
Median Rent: $920
Pending Leases: 14
New Listings: 28
Active Listings: 36
Information provided by The Real Estate Center at Texas A&M.
No comments:
Post a Comment