If you read my Dallas Area Residential Report for July that was posted Monday evening, you know that sales were down for the first time in several years. Unfortunately for Far North Dallas the sales decline was much worse that the larger area. Sales fell 24% as compared to last July. We still saw an average price increase of 12% and a median increase of 7%. Pending sales dropped by 11% so we can anticipate that the August sales number will be down. The number of new listings fell 3% but the active listings rose 5%. The months of inventory now stands at 2.6 months.
Sales: 100
Average Sales Price: $472,560
Median Sales Price: $395,000
Pending Sales: 105
New Listings: 153
Active Listings: 235
Months of Inventory: 2.6
Information provided by The Real Estate Center at Texas A&M.
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