Dallas Area Residential Sales Report for December - Far North Dallas

Dallas Area Residential Sales Report for December - Far North Dallas

Sales bucked the trend in December and were up 33%. The average sales price fell 15% and the median sales price declined 4%. There have been a number of price reductions and it looks like those reductions spurred buyers into action. Pending sales were flat. Not sure what that means for January.  New listings fell 31% but the active listings were 6% higher that last December. The months of inventory now stands art 2.2 months which is well short of the 6 months considered a balanced market.

Sales: 97

Average Sales Price: $479,418

Median Sales Price: $436,000

Pending Sales: 56

New Listings: 194

Months of Inventory: 2.2

Information provided by The Real Estate Center

Dallas Area Residential Sales Report - 2018

Dallas Area Residential Sales Report - 2018

For 2018 sales were down 1%. Pending sales fell 2%. This is the first down year in sales in a number of years. The average sales price increased 4% year over year while the median sales price rose 5%. New listings increased 3% and the active listings climbed 13%.

OK everybody want to know what will the future hold.

If you are in the $199,999 or below price range you will continue to struggle. There is very little inventory and the best homes will be in high demand.

Demand will remain in the $200,000 to $399,999 range but if you are  a seller don't expect multiple offers on you homes. It will take you longer to sell your home as the market moves to a more normal  condition and you can not expect the rapid price increases of years past. I expect prices to be flat to a little down in the coming year. Condition and price will be very important. If you have not done a lot of updating to your property and try to over price it, it's not going to sell!

The kicker in all this is interest rates. If rates rise sharply prices will have to come down.

Wishing all of you a prosperous and happy new year!

Flattening home market may feel worse than it is to anxious sellers in 2019

Flattening home market may feel worse than it is to anxious sellers in 2019

But the new wind blowing through residential neighborhoods freaked out many home sellers who were hoping they could keep asking the moon for the roofs over their heads.

Flattening home market may feel worse than it is to anxious sellers

Flattening home market may feel worse than it is to anxious sellers

The new wind blowing through residential neighborhoods freaked out many home sellers who were hoping they could keep asking the moon for the roofs over their heads.

Dallas home prices up just over 5 percent in latest survey

Dallas home prices up just over 5 percent in latest survey

North Texas home price increases have slowed this year due to rising inventories of homes for sale and higher mortgage rates.

Dallas Area Residential Sales Report for November - Frisco TX

Dallas Area Residential Sales Report for November - Frisco TX

Sales are defiantly slowing in Frisco. November sales came in down 10% while the pending sales fell 14%.  The average sales price continues to rise with a 4% increase. The median sales price climbed 7% as several high dollar sales pulled this  average up. New listings declined 2%.  With the decrease in sales, the number of new listings rose 18 and took the months of inventory to 3.2 months.

Sales: 254

Average Sales Price: $444,686

Median Sales Price: $389,000

Pending Sales: 236

New Listings: 291

Active Listings: 975

Months of Inventory: 3.2

Information provided by the Real Estate Center 

Dallas Area Residential Sales Report for November - McKinney TX

Dallas Area Residential Sales Report for November - McKinney TX

After positive sales last month, Sales fell 5% in McKinney during November. Pending sales declined 3%.  The average sales price increased 2% while the median sales price was flat. New listings dropped 2% but we saw a 14% rise in the number of active listings. The months of inventory rose slightly to 3.1 months. 6 months is considered a balanced market.

Sales: 219

Average Sales Price: $354,685

Median Sales Price: $329,320

Pending Sales: 211

New Listings: 241

Active Listings: 782

Months of Inventory: 3.1

Information provided by The Real Estate Center

9 Home Decor Trends We Should All Ditch in 2019

9 Home Decor Trends We Should All Ditch in 2019

Yes, these trends will likely come and go also, but the great thing about trends is that each of them has the capacity to capture our interest far beyond their flash-in-the-pan popularity. 

Dallas Area Residential Sales Report for November - Plano TX

Dallas Area Residential Sales Report for November - Plano TX

Sales fell again in Plano. down 16%. Pending sales were a little better only off 6%. The average sales price rose 13% while the median sales price fell 1%. Had an abnormal sales pattern that caused these numbers. The number of new listings increased 9% while the number of active listings increased  31%. While that looks like a large increase and buyers would be happy with the increase, the months of inventory only rose to 2.5 months. That's still a low supply and Plano retains it's sellers market status.

Sales: 218

Average Sales Price: $478,904

Median Sales Price: $347,500

Pending Sales: 230

New Listings: 294

Active Listings: 685

Months of Inventory: 2.5

Information provided by The Real Estate Center

Dallas Area Residential Sales Report for November

Dallas Area Residential Sales Report for November

Sales continued their downtrend in November down 8% as compared to last November. Pending sales were a little better only  of 5%. The average sales price rose 4% while the median sales price was up 3%. We saw 8% more new listings and the active listings climbed 23%. The months of inventory now stands at 2.7 months. We are still way short of the 6 months considered a balanced market.

Sales under $200,000 remain down double digits due to the extreme shortage of supply. Homes priced between $200,000 and $399,999 remain the most in demand and represent 53% of all sales.  in the upper price ranges from The supply in this range is about 2.5 months so buyers are still having a hard time finding a home that fits their lifestyle. Homes in the upper ranges from $600,000 to $999,999 are much closer to a balanced market and buyers have inventory to choose from. Over $1,000,000 finds a 8.9 month supply and this market is tilted to the buyer side.

Sales: 7,502
Average Sales Price: $307,038
Median Sales Price: $250,000
Pending Sales: 7,579
New Listings: 9,222
Active Listings: 23,867
Months of Inventory: 2.7

Buyers Aren’t Giving Up, But Their House Hunts Are Lasting Longer

Buyers Aren’t Giving Up, But Their House Hunts Are Lasting Longer

Buyers say the biggest delays that are stretching out their home search is they can’t find a home at an affordable price