Single-Family:
Sales in the Lake Highlands/NE Dallas area were up by 3% in March as compared to a year ago. The average sales price jumped by a whopping 22% while the median sales price was up by 26%. As in other areas, this large increase is mostly caused by sales being concentrated in the upper price ranges and few sales in the lower ranges.
Pending sales were up by 2%. The number of new listings declined by 18% and the active listings by 4%. The months of inventory stands at 1.4 months.
Sales: 75
Average Sales Price: $ 378,236
Median Sales Price: $ 247,250
Pending sales: 67
New Listings: 75
Active listings: 90
Months of Inventory: 1.4
Condos and Townhouses:
Sales were off by 25% in March. The average sales price increased by 22% while the median sales price jumped by 57%. Pending sales were up by 81% so next month's sales are looking good. The new listings fell by 14% and the active listings fell by 17%. These declines reduced the months of inventory to 2.2 months.
Sales: 21
Average Sales Price: $86,453
Median Sales Price: $72,500
Pending Sales: 58
New Listings: 43
Active listings: 53
Months of Inventory: 2.2
Leases:
Leases took a huge jump of 63% in March. The average rent increased by 5% but the median rent climbed by 28%. Pending leases were up by 67%. The new listings increases by 18% but the active listings declined by 31% leaving the months of inventory down to 1 month.
Leases: 39
Average Rent: $1,343
Median Rent: 1,250
Pending Leases: 20
New Listings: 33
Active Listings: 29
Months of Inventory: 1
Information provided by The Real Estate Center at Texas A&M.
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