Dallas Area Residential Real Estate Report

Friday, February 10, 2017

Dallas Area Residential Sales by Price Class

Sales below $150,000 continue their decline. There is a lot of demand but finding a good house that you can get a loan on is very hard. Many of the homes in this price range are in poor condition and buyers are mostly investors.

Homes in the $150,000 to $199,999 range are even more difficult to find with about a 1.2 months supply. A well price home will go very quickly.

The sweet spot in the market continues to be the $200,000 to $399,999 range. This price ranges represents 45.6% of all sales. Demand remains high and inventory is short. There is currently about a 2 month supply. With 6 months considered a balanced market, you can readily see how tilted the market is to the Seller side.

The $400,000 to $599,990 area is seeing good demand and with supply around 6 months buyers have some choices.

Sales in the $600,000 to $899,999 category are selling and with the months of inventory around 8.5 months buyers have the advantage.

Looking to buy a $1,000,000 plus home? Well you have a number to chose from and with the months of inventory at 13.9 months there is room to negotiate.

Thursday, February 9, 2017

15 Design Features of a Dream Kitchen

The addition of any one of these items would greatly increase the appeal of a space. Combine them all, and you’d have one spectacular dream kitchen.

Dallas Neighborhoods-Glen Lakes

Entering through the landscaped gates, you first notice the unique blending of nature and elegant architecture. It's as though an artist had painted a beautiful, harmonious scene of architecture and nature which transferred itself into the reality of Glen Lakes.

Dallas Area Residential Sales Report for January

No slowdown in sales around here!

Sales were up 8% as compared to this time last year. The average sales price increased 12% while the median sales price jumped 15%. These averages are being pulled up not only by increasing sales prices but also by the fact that there are very few sales occurring under $200,000 due to the extreme inventory shortage. Pending Sales only increased by 1%. The number of new listings rose by 4% but the active listings fell by 1%. There is a 2.7 months supply on the market.

Sales: 5,863

Average Sales Price: $273,057

Median Sales Price: $225,000

Pending Sales: 8,031

New Listings: 9,377

Active Listings: 16,092

Months of Inventory: 2.7

Information provided by The Real Estate Center

Wednesday, February 8, 2017

Houses are the least affordable they've been in seven years: Here's why

Houses are the least affordable they've been in seven years:

Here's why

Mortgage applications rise 2.3% as rates hit three-week low

Mortgage rates have been wavering in a tight range for the past month, but a slight decrease last week helped put some energy back into the mortgage market.