October Residential Sales Report for Lake Highlands/NE Dallas

Sales took a large jump. Listings increased. It's a Seller's market.

Single-Family:

Sales shot up 24% in October as compared to a year ago. The average sales price was flat but the median sales price increased by 3%. Pending sales jumped 33% so we can anticipate a good November. The number of new listings increased by 12% and the active listings by 11%. these increases only causes a slight increase in the months of inventory to 2.3 months. 6 months is considered a balanced supply.

Sales: 77
Average Sales Price: $329,732
Median Sales Price: $325,000
Pending Sales: 76
New Listings: 83
Active listings:  147
Months of Inventory: 2.3

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

October Residential Sales Report for Richardson, Tx

Sales were very strong in October. It is still very much a sellers market!

Single-Family:

Sales jumped 29% in October as compared to a year ago. The average sales price increased by 24% and the median sales price by 26%. These large increases are caused by yes a shortage of properties on the market pulling prices up but in addition, a shortage of sales in the lower price ranges.
Pending sales increased by 5%. The number of new listings rose by 14% and the active listings climbed by 12%. While it's good to see more supply coming on the market, the months of inventory only increased to 1.2 months. Still a very short supply.

Sales: 157
Average Sales Price: $258,027
Median Sales Price: $233,000
Pending Sales: 116
New Listings: 121
Active listings: 121
Months of Inventory: 1.2

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

This contemporary art collection confirms Dallas' world-class status

This contemporary art collection confirms Dallas' world-class status

Inaugural display from the renowned Karpidas Collection. Photo courtesy of the Karpidas Collection

Any frequent visitor to the Dallas Design District is no doubt familiar with the Hellenic-influenced, blue-tile-and-white-columned building on Hi Line Drive. 

When Should I Lock in My Mortgage Rate?

When Should I Lock in My Mortgage Rate?

If you're not sure when to lock in an interest rate on your mortgage, here are a few things to consider in getting the best possible rate and price.

Homebuilder confidence down more than expected in Nov

Homebuilder confidence down more than expected in Nov

The November report is pullback from an unusually high October, and is more in line with the consistent, modest growth that we have seen throughout the year

Home sales agents are bracing for higher mortgage costs

Home sales agents are bracing for higher mortgage costs

Real estate agents are bracing for higher home financing costs, which could come before the end of the year.

Are you life of the party? Only your kitchen knows

Are you life of the party? Only your kitchen knows

If your home is your castle, then the kitchen is the Great Hall — the central meeting place, the mainstay of the manor house. It is the heart of the home, radiating the character of the homeowner.

Events Happening between November 16 - November 20

Events Happening between November 16 - November 20

Lots of things to do this week!

5 Pros and 5 Cons of Homeowners’ Associations

5 Pros and 5 Cons of Homeowners’ Associations

So, what’s the draw of homeowners’ associations? By the same token, what are the drawbacks?

Home price rise likely to cool off, analysts predict

Home price rise likely to cool off, analysts predict

After a couple years of soaring costs, home price increases should moderate in 2016.

3 Things Homebuyers Need to Know About Mortgage Interest

3 Things Homebuyers Need to Know About Mortgage Interest

Mortgage interest is a double-edged sword. On one hand, it’s a tax-deductible expense, but, by and large, it is the heaviest cost of homeownership.