Far North Dallas Residential Sales Report for March

Single-Family:

Sales in Far North Dallas were off by 1% in March. The average sales price increased by 4% while the median sales price jumped 16%. The increase in the median price indicates there were more sales in the upper price ranges. Pending sales increased by 5%. The number of new listings climbed by 8% and the active listings were up by 1%. Unfortunately if you are a buyer, the months of inventory remains at a very low 1.5 months.

Sales: 107

Average Sales Price: $432,052

Median Sales Price: $373,750

Pending Sales: 106

New Listings: 148

Active Listings: 152

Months of Inventory: 1.5

Condos and Townhouses:

Condo and Townhouse sales were down by 3%. The average sales price dropped by 18% while the median price increases by 4%. Pending sales also declined by 6%. The new listings fell 3% and the active listings by 40%. It looks like some sellers took their properties off the market. The months of inventory now stands at 1 month.

Sales: 34

Average sales Price: $154,117

Median Sales Price: $131,000

Pending Sales: 47

New Listings: 57

Active Listings: 45

Months of Inventory: 1 month

Leases:

Leases were off by 4%. The average rent increased by 20% and the median rent  by 23%. Rents in Far North Dallas are increasing rapidly. Pending leases were up by 211%. The number of new listings increased by 14% but the active listings fell by 14%. The months of inventory is now at 1.6 months.

Leases: 47

Average Rent: $1,832

Median Rent: $1,870

Pending Leases: 28

New Listings: 67

Active Listings: 70

Months of Inventory: 1.6

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