Dallas Area Residential Sales by Price Class for October

Sales of homes below $159,999 are just abysmal. Every month these sales are double digit negative due to the extreme shortage of properties in this range. If a decent home comes on the market, you almost need a policeman to direct traffic due to the agents trying to get their clients in to see the property and there will be a large number of offers well above the asking price.

Demand is just as great in the $160,000 to $199,000 range. There is about a 1.1 month supply so buyers are fighting over the properties.

The range between $200,000 and $399,000 continues to be in high demand and represents 43.5% of all the sales. Inventory is a little better at about 2 months.

The $400,000 to $599,999 area is still selling well with sales up 22.5% as compared to last year. Buyers have more choices with the months of inventory around 4.4 months but this is still tilted to the Seller side.

When we reach the $600,000 to $799,000 numbers sales are up 16% but the months of inventory moved to a balanced supply at about 6 months.

The $800,000 to $999,000 range does not have a lot of demand and only represents less that 1% of the total sales. While properties in this range are still showing a positive sales number year to date of up 3.5 %, the months of inventory stands at 8 months as is tilted towards the Buyer.

Sales above $1,000,000 are 10% higher year to date but the supply is greater that demand with the months of inventory standing at 11.5 months. This is defiantly a Buyer's Market.

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