Lake Highlands/ NE Dallas Residential Sales Report for July

Single-Family:

Sales were up by 3% in July. The average sales price rose 7% while the median sales price climber by 10%. Sales continue to be concentrated in the upper price ranges. Pending sales jumped 87%. It looks like some closings may have been were pushed into August. The number of new listings declined by 3% and the active listings fell by 21%. The months of Inventory dropped to 2.1 months.

Sales: 81

Average Sales Price: $349,447

Median Sales Price: $ 345,000

Pending Sales: 86

New Listings: 101

Active Listings: 130

Months of inventory: 2.1

Condos and Townhouses: 

Condo and townhouse sales were up by 10%. The average sales price climber by 5% and the median price by 3%. Pending sales jumped 94% while the number of new listings fell by 56% and the active listings by 66%. The months of inventory took a sharp decline to 1.7 months.

Sales: 33

Average Sales Price: $84,761

Median Sales Price: $73,050

Pending Sales: 33

New Listings: 36

Active Listings: 44

Months of Inventory: 1.7

Leases:

Leases fell off by 18% in July. The average rent still rose by 8% but the median rent dropped by 4%. A little gyration in the typical types for properties normally leased in a month. Pending leases rose by 300%. the new listings increased by 21% but the active listings fell by 30% causing the months of inventory to decline to 1.3 months.

Leases: 27

Average Rent: $1,387

Median Rent: $1,150

Pending Leases: 20

New Listings: 41

Active Listings: 23

Months of Inventory: 1.3

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