Far North Dallas Residential Sales Report for July

Homes in Far North Dallas sold at a brisk pace in July. Sales were up by 29%. The average sales price increased 4% but the median price shot up 13%. this large increase in the median sales price is simply more homes in the upper price range selling pulling the median price up.

The number of new listings fell 21% and the active listings also declined by 21%. This caused the months of inventory to drop to 2.1 months.

Pending Sales jumped 26% so we can look forward to a strong August.

Sales: 144

Average Sales Price: $428,904

Median Sales Price: $372,750

New Listings: 158

Active Listings: 224

Months of Inventory: 2.1

Pending sales: 118

Condos and Townhouses:

Condo and townhouse sales were weak in July. Sales were off by 31%. I believe that this decline is primarily due to the extreme shortage of inventory especially in the lower price ranges. The average Sales price rose 12% and the median jumped 25%. As in single-family this increase in the median sales price is caused by more sales in the upper price range.
New listings increased by 7% but the active listings dropped by 33%. This brought the months of inventory down to 1.2 months. It's just very hard to find a condo or a townhouse in Far North Dallas.
Pending sales were up by 33% so as in Single-Family we can expect a good sales report in August.

Sales: 38
Average Sales Price: $172,760
Median Sales Price: $137,170
New Listings: 77
Active Listings: 52
Months of Inventory: 1.2
Pending Sales: 64

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