Far North Dallas Residential Sales Report for June

Single-Family:

Sales were up 5% in Far North Dallas in June. The average sales price climbed by 5% while the median sales price rose 6%. Just a little moderation in these numbers as compared to last month. The pending sales jumped by 15% so we can look forward to July being a strong month. The number of new listings increased by4% but the active listings declined by 16%. Nothing new here. The months of inventory now stands at 1.9 months.

Sales: 141

Average Sales Price: $415,605

Median Sales Price: $385,000

Pending Sales: 110

New Listings: 166

Active Listings: 202

Months of Inventory: 1.8

Condos and Townhomes:

Condo and townhome sales were down by 19%. The inventory is very low and it’s really hard to find a property to buy. The average sales price jumped 38% while the median sales price rose 19%. As in a lot of other areas the sales are concentrated in the upper price ranges thus pulling up the averages.

Pending sales fell 15%. The number of new listings dropped by 26% and the active listings declined by 39%. The months of inventory is now at 1 month.  not a good time to be looking for a condo or townhome.

Sales: 50

Average Sales Price: $168,372

Median Sales Price: $118,000

New Listings: 39

Active Listings: 46

Months of Inventory: 1  

Leases:

Leasing activity jumped 23%. The average rent declined by 3% and the median rent climbed by 8%. Just some gyrations in the types of properties that got leased. Pending leases were up 200%. the number of new listings fell by 14% and the active listings fell off a cliff being down by 40%. The months of inventory declined to 1.4 months. It’s just as hard to find a property to lease as it is a home to purchase.

Leases: 59

Average Rent: $1,805

Median Rent: $1,880

Pending Leases: 36

New Listings: $72

Active Listings: 61

Months of Inventory: 1.4

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